Fisher Asset Management LLC Purchases 57,780 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Fisher Asset Management LLC lifted its stake in IPG Photonics Co. (NASDAQ:IPGP) by 30.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,830 shares of the semiconductor company’s stock after buying an additional 57,780 shares during the period. Fisher Asset Management LLC’s holdings in IPG Photonics were worth $18,168,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after buying an additional 28,606 shares during the period. Pacer Advisors Inc. increased its holdings in shares of IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after buying an additional 181,844 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in shares of IPG Photonics by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock worth $39,749,000 after buying an additional 43,874 shares during the period. Baillie Gifford & Co. increased its holdings in shares of IPG Photonics by 34.0% in the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after buying an additional 95,199 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock worth $13,011,000 after buying an additional 145,616 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

IPGP stock opened at $58.27 on Tuesday. IPG Photonics Co. has a fifty-two week low of $56.71 and a fifty-two week high of $92.21. The business’s 50 day moving average price is $70.20 and its two-hundred day moving average price is $72.68. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -13.94 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly 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%. Sell-side analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IPGP. Citigroup reduced their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus reduced their price target on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $87.75.

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.