Invenomic Capital Management LP grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 128.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,805 shares of the semiconductor company's stock after purchasing an additional 28,029 shares during the period. Invenomic Capital Management LP owned approximately 0.12% of IPG Photonics worth $3,622,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in IPGP. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock valued at $98,335,000 after purchasing an additional 173,584 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of IPG Photonics by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company's stock valued at $72,694,000 after buying an additional 28,606 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of IPG Photonics by 34.0% during the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock valued at $27,310,000 after buying an additional 95,199 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of IPG Photonics by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock valued at $26,879,000 after buying an additional 19,307 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of IPG Photonics by 35.1% during the 4th quarter. First Trust Advisors LP now owns 343,208 shares of the semiconductor company's stock valued at $24,958,000 after buying an additional 89,237 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.
IPG Photonics Price Performance
Shares of NASDAQ:IPGP traded up $0.05 during trading on Thursday, reaching $65.40. 192,925 shares of the company's stock traded hands, compared to its average volume of 286,205. The company has a 50 day moving average of $59.31 and a 200-day moving average of $68.36. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21. The stock has a market capitalization of $2.78 billion, a P/E ratio of -15.65 and a beta of 0.92.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. The company had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The business's revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently commented on IPGP shares. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research note on Monday, April 28th. Citigroup reduced their target price on IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Raymond James reduced their target price on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research note on Wednesday, May 7th. Finally, StockNews.com upgraded IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IPG Photonics has a consensus rating of "Hold" and a consensus target price of $69.50.
View Our Latest Stock Report on IPGP
About IPG Photonics
(
Free Report)
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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