10,591 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,591 shares of the semiconductor company's stock, valued at approximately $770,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after purchasing an additional 818 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock valued at $77,000 after buying an additional 876 shares during the period. Headlands Technologies LLC bought a new position in shares of IPG Photonics during the fourth quarter worth about $87,000. KBC Group NV lifted its stake in shares of IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock worth $117,000 after acquiring an additional 527 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of IPG Photonics by 52.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock worth $120,000 after acquiring an additional 572 shares during the period. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IPGP shares. CL King raised shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a research report on Tuesday, March 18th. Raymond James decreased their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. StockNews.com raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus set a $72.00 price target on IPG Photonics in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $69.50.

IPG Photonics Price Performance

Shares of NASDAQ:IPGP traded down $1.54 during mid-day trading on Wednesday, hitting $64.95. The company had a trading volume of 67,964 shares, compared to its average volume of 286,621. IPG Photonics Co. has a one year low of $48.59 and a one year high of $92.21. The firm has a fifty day moving average price of $59.79 and a 200 day moving average price of $67.81. The company has a market capitalization of $2.76 billion, a PE ratio of -15.63 and a beta of 0.92.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $227.79 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.52 earnings per share. Research analysts expect that IPG Photonics Co. will post 1.54 earnings per share 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.