Vanguard Group Inc. Lowers Position in IPG Photonics Co. (NASDAQ:IPGP)

Vanguard Group Inc. trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,004,567 shares of the semiconductor company’s stock after selling 220,372 shares during the period. Vanguard Group Inc. owned approximately 0.07% of IPG Photonics worth $218,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IPGP. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of IPG Photonics by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock valued at $72,694,000 after purchasing an additional 28,606 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in IPG Photonics by 8.9% during the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after buying an additional 43,874 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of IPG Photonics by 34.0% during the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock valued at $27,310,000 after buying an additional 95,199 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IPG Photonics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company’s stock worth $26,879,000 after buying an additional 19,307 shares during the period. Finally, Pacific Heights Asset Management LLC increased its stake in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock worth $22,107,000 after acquiring an additional 240,000 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Down 5.4 %

NASDAQ:IPGP opened at $52.12 on Friday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -12.47 and a beta of 1.04. The company’s 50 day moving average price is $64.32 and its 200-day moving average price is $71.79. IPG Photonics Co. has a 52 week low of $49.55 and a 52 week high of $92.21.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on IPGP. Citigroup dropped their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus cut their price target 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IPG Photonics has a consensus 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.