Edgestream Partners L.P. Lowers Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Edgestream Partners L.P. lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,959 shares of the semiconductor company’s stock after selling 2,494 shares during the quarter. Edgestream Partners L.P.’s holdings in IPG Photonics were worth $1,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 345 shares during the period. Venturi Wealth Management LLC lifted its position in 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. lifted its position in IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 876 shares during the period. KBC Group NV lifted its position in shares of IPG Photonics by 50.6% during 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 during the period. Finally, Assetmark Inc. lifted its position in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

IPGP has been the subject of a number of research reports. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Citigroup dropped their price objective 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 research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.75.

IPG Photonics Stock Performance

IPGP stock opened at $61.51 on Tuesday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -14.72 and a beta of 1.04. IPG Photonics Co. has a one year low of $56.71 and a one year high of $92.21. The company has a 50 day moving average price of $68.81 and a two-hundred day moving average price of $72.42.

IPG Photonics (NASDAQ:IPGP) last released 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 positive return on equity of 2.98% and a negative net margin of 18.58%. Research analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

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.