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

Point72 Hong Kong Ltd bought a new position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,591 shares of the semiconductor company's stock, valued at approximately $770,000.

A number of other hedge funds have also modified their holdings of IPGP. Venturi Wealth Management LLC lifted its stake in IPG Photonics by 355.7% during the fourth 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 in the last quarter. SRS Capital Advisors Inc. lifted its holdings in IPG Photonics by 463.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock worth $77,000 after buying an additional 876 shares during the last quarter. Headlands Technologies LLC acquired a new position in IPG Photonics in the fourth quarter valued at approximately $87,000. KBC Group NV grew its position in shares of 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 buying an additional 527 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of IPG Photonics by 52.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company's stock worth $120,000 after purchasing an additional 572 shares during the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IPGP shares. Raymond James cut their target price on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Wednesday, May 7th. Citigroup dropped their price objective 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. CL King upgraded 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. Needham & Company LLC restated 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.50.

IPG Photonics Trading Down 1.5%

Shares of NASDAQ IPGP traded down $0.98 on Monday, reaching $65.51. 285,728 shares of the company traded hands, compared to its average volume of 287,313. The stock has a market capitalization of $2.79 billion, a PE ratio of -15.67 and a beta of 0.92. IPG Photonics Co. has a fifty-two week low of $48.59 and a fifty-two week high of $92.21. The company has a 50 day moving average of $59.65 and a 200 day moving average of $67.82.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million for 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 company's revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, research analysts expect that IPG Photonics Co. will post 1.54 earnings per share 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.