2,000 Shares in IPG Photonics Co. (NASDAQ:IPGP) Acquired by Millstone Evans Group LLC

Millstone Evans Group LLC bought a new position in shares of IPG Photonics Co. (NASDAQ:IPGP) in the fourth quarter, Holdings Channel reports. The fund bought 2,000 shares of the semiconductor company’s stock, valued at approximately $145,000.

A number of other large investors have also recently added to or reduced their stakes in IPGP. Victory Capital Management Inc. lifted its position in shares of IPG Photonics by 23.8% in the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock valued at $535,000 after acquiring an additional 1,385 shares in the last quarter. KBC Group NV lifted its position in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 365 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of IPG Photonics in the 3rd quarter valued at approximately $190,000. Fisher Asset Management LLC lifted its position in shares of IPG Photonics by 4.3% in the 3rd quarter. Fisher Asset Management LLC now owns 192,050 shares of the semiconductor company’s stock valued at $14,273,000 after acquiring an additional 7,911 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of IPG Photonics by 57.7% in the 3rd quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company’s stock valued at $1,728,000 after acquiring an additional 8,507 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Trading Down 2.0 %

IPGP stock opened at $64.06 on Friday. IPG Photonics Co. has a 1 year low of $56.71 and a 1 year high of $92.21. The company has a fifty day simple moving average of $66.67 and a 200 day simple moving average of $71.95. The firm has a market cap of $2.73 billion, a PE ratio of -15.33 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data 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 negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IPGP shares. 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 research note on Wednesday, February 12th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. CL King raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, March 18th. Finally, Citigroup decreased 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. One equities research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.