Lazard Asset Management LLC Has $77.75 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Lazard Asset Management LLC raised its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,069,193 shares of the semiconductor company's stock after purchasing an additional 9,852 shares during the period. Lazard Asset Management LLC owned 2.47% of IPG Photonics worth $77,751,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Beaumont Financial Advisors LLC raised its stake in IPG Photonics by 4.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company's stock valued at $248,000 after acquiring an additional 139 shares in the last quarter. Cerity Partners LLC grew its stake in shares of IPG Photonics by 5.7% in the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock worth $222,000 after purchasing an additional 163 shares in the last quarter. Waterfront Wealth Inc. grew its stake in shares of IPG Photonics by 1.6% in the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock worth $895,000 after purchasing an additional 190 shares in the last quarter. Xponance Inc. increased its holdings in shares of IPG Photonics by 7.6% during the fourth quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock valued at $233,000 after purchasing an additional 226 shares during the period. Finally, Calamos Wealth Management LLC raised its stake in shares of IPG Photonics by 4.0% during the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company's stock valued at $454,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company's stock.

Analyst Ratings Changes

IPGP has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. Raymond James reduced their price target on shares of 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. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a research note on Monday, April 28th. CL King raised IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a report on Tuesday, March 18th. Finally, Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $69.50.

IPG Photonics Stock Performance

NASDAQ IPGP traded up $1.09 on Friday, reaching $66.49. The company's stock had a trading volume of 275,751 shares, compared to its average volume of 286,649. IPG Photonics Co. has a twelve month low of $48.59 and a twelve month high of $92.21. The firm's 50 day moving average is $59.38 and its two-hundred day moving average is $68.26. The stock has a market cap of $2.83 billion, a PE ratio of -15.91 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released 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 business had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts anticipate that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

About IPG Photonics

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.