3,349 Shares in IPG Photonics Co. (NASDAQ:IPGP) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in IPG Photonics Co. (NASDAQ:IPGP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,349 shares of the semiconductor company’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waterfront Wealth Inc. increased its position in IPG Photonics by 1.6% in the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock valued at $895,000 after acquiring an additional 190 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of IPG Photonics by 16.3% in the fourth quarter. Handelsbanken Fonder AB now owns 10,000 shares of the semiconductor company’s stock valued at $727,000 after purchasing an additional 1,400 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares during the period. Baillie Gifford & Co. raised its stake in shares of IPG Photonics by 34.0% during the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after purchasing an additional 95,199 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of IPG Photonics by 0.8% during the fourth quarter. Rhumbline Advisers now owns 75,503 shares of the semiconductor company’s stock worth $5,491,000 after purchasing an additional 580 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Price Performance

NASDAQ IPGP opened at $60.37 on Wednesday. The business has a 50 day moving average price of $69.87 and a 200 day moving average price of $72.61. The company has a market capitalization of $2.57 billion, a P/E ratio of -14.44 and a beta of 0.95. IPG Photonics Co. has a 1-year low of $56.71 and a 1-year high of $92.21.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IPGP. Citigroup reduced 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 note on Tuesday, February 18th. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their target price on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.75.

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.