Northern Trust Corp Raises Stake in IPG Photonics Co. (NASDAQ:IPGP)

Northern Trust Corp increased its stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 224,959 shares of the semiconductor company's stock after purchasing an additional 33,601 shares during the quarter. Northern Trust Corp owned 0.52% of IPG Photonics worth $16,359,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its position in IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock valued at $76,000 after acquiring an additional 818 shares during the last quarter. SRS Capital Advisors Inc. grew its position in IPG Photonics by 463.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock valued at $77,000 after acquiring an additional 876 shares during the last quarter. Headlands Technologies LLC bought a new position in IPG Photonics in the 4th quarter valued at $87,000. KBC Group NV grew its position in IPG Photonics by 48.5% in the 4th quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock valued at $117,000 after acquiring an additional 527 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in IPG Photonics by 52.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock valued at $120,000 after acquiring an additional 572 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research report on Monday, April 28th. Citigroup dropped their price target on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday. Raymond James dropped their price target on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, May 7th. Finally, CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics currently has an average rating of "Hold" and an average price target of $69.50.

IPG Photonics Stock Performance

IPGP stock traded up $1.09 during trading on Friday, reaching $66.49. 275,751 shares of the company traded hands, compared to its average volume of 287,320. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21. The business has a 50 day simple moving average of $59.54 and a 200 day simple moving average of $68.03. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -15.91 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. The company had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm's revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, research analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.

IPG Photonics Profile

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.