Y Intercept Hong Kong Ltd Buys New Position in IPG Photonics Co. (NASDAQ:IPGP)

Y Intercept Hong Kong Ltd purchased a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,349 shares of the semiconductor company’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of IPGP. Versant Capital Management Inc grew its stake in IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 345 shares during the period. Venturi Wealth Management LLC grew its position 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. KBC Group NV increased its stake in IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares during the last quarter. Assetmark Inc. lifted its position in IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after buying an additional 295 shares during the period. Finally, FMR LLC boosted its stake in IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after buying an additional 153 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup cut their target price 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. Finally, Stifel Nicolaus dropped their price target on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $87.75.

IPG Photonics Trading Up 3.6 %

Shares of IPGP stock opened at $60.37 on Wednesday. The company’s fifty day simple moving average is $69.87 and its 200-day simple moving average is $72.61. IPG Photonics Co. has a 52 week low of $56.71 and a 52 week high of $92.21. The company has a market cap of $2.57 billion, a PE ratio of -14.44 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 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%. Equities research analysts expect that IPG Photonics Co. will post 1.54 EPS 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.