Wells Fargo & Company MN Has $703,000 Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Wells Fargo & Company MN lowered its position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,672 shares of the semiconductor company's stock after selling 6,351 shares during the quarter. Wells Fargo & Company MN's holdings in IPG Photonics were worth $703,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Beaumont Financial Advisors LLC boosted its stake in shares of IPG Photonics by 4.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company's stock worth $248,000 after buying an additional 139 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in IPG Photonics by 1.6% during the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock worth $895,000 after acquiring an additional 190 shares in the last quarter. Xponance Inc. boosted its position in 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 last quarter. Calamos Wealth Management LLC boosted its position in 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 during the last quarter. Finally, Versant Capital Management Inc grew its stake in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 345 shares in the last quarter. Institutional investors own 93.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IPGP. CL King upgraded IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a research note on Tuesday, March 18th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research report on Monday. Citigroup decreased their price objective 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $77.00.

IPG Photonics Stock Performance

IPGP opened at $61.80 on Friday. IPG Photonics Co. has a 52-week low of $48.59 and a 52-week high of $92.21. The firm has a market cap of $2.64 billion, a P/E ratio of -14.78 and a beta of 0.97. The business's fifty day moving average is $59.10 and its 200-day moving average is $69.21.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. On average, research analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Company 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.

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