1 week Ago By Defense World Staff
Norges Bank purchased a new stake in IPG Photonics Co. (NASDAQ:IPGP – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 77,417 shares of the semiconductor company’s stock, valued at approximately $5,630,000.
Norges Bank owned about 0.18% of IPG Photonics as of its most recent filing with the Securities & Exchange Commission. Several other institutional investors have also added to or reduced their stakes in IPGP.
Versant Capital Management Inc increased its position in shares of IPG Photonics by 56.7% in 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 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.
SRS Capital Advisors Inc. raised its stake in shares of IPG Photonics by 463.5% in the fourth quarter.
SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 876 shares during the last quarter. KBC Group NV lifted its holdings in shares of IPG Photonics by 48.
5% during the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 527 shares during the period. Finally, FMR LLC boosted its position in IPG Photonics by 10.
4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 93.
79% of the company’s stock. IPG Photonics Stock PerformanceShares of IPG Photonics stock opened at $57.47 on Thursday.
IPG Photonics Co. has a fifty-two week low of $48.59 and a fifty-two week high of $92.
21. The company has a market cap of $2.45 billion, a P/E ratio of -13.
75 and a beta of 0.97. The firm has a 50-day simple moving average of $62.
43 and a two-hundred day simple moving average of $71.19. IPG Photonics (NASDAQ:IPGP – Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts forecast that IPG Photonics Co. will post 1.
54 EPS for the current year. Analyst Ratings ChangesIPGP has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $100.
00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th.
Citigroup lowered their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th.
Finally, CL King upgraded IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock.
According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.40.
Get Our Latest Analysis on IPGPIPG Photonics Profile (Free Report)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.Recommended StoriesFive stocks we like better than IPG PhotonicsHow to Effectively Use the MarketBeat Ratings ScreenerQuantum Computing: The $6.
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