IPG Photonics Co. (NASDAQ:IPGP) Position Lessened by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC decreased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 89.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 502 shares of the semiconductor company’s stock after selling 4,368 shares during the period. Steward Partners Investment Advisory LLC’s holdings in IPG Photonics were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Beaumont Financial Advisors LLC lifted its holdings in shares of IPG Photonics by 4.2% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 139 shares during the last quarter. FMR LLC raised its stake in IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares in the last quarter. Waterfront Wealth Inc. raised its stake in IPG Photonics by 1.6% during 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 in the last quarter. Calamos Wealth Management LLC raised its stake in IPG Photonics by 4.0% during the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 237 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in IPG Photonics by 56.7% during the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Up 4.4 %

Shares of NASDAQ IPGP opened at $66.10 on Wednesday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -15.81 and a beta of 1.04. The stock’s fifty day simple moving average is $67.16 and its 200 day simple moving average is $72.03. IPG Photonics Co. has a 52-week low of $56.71 and a 52-week high of $92.21.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on IPGP. Stifel Nicolaus cut their target price on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. 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 research note on Tuesday. Finally, Citigroup lowered their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IPG Photonics currently has an average rating of “Hold” and a consensus target price of $85.40.

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.