First Eagle Investment Management LLC Decreases Holdings in IPG Photonics Co. (NASDAQ:IPGP)

First Eagle Investment Management LLC cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,497,062 shares of the semiconductor company’s stock after selling 19,863 shares during the period. First Eagle Investment Management LLC owned about 10.40% of IPG Photonics worth $327,026,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IPGP. Beaumont Financial Advisors LLC boosted its holdings in IPG Photonics by 4.2% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock worth $248,000 after buying an additional 139 shares during the period. FMR LLC lifted its holdings in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares during the last quarter. Waterfront Wealth Inc. lifted its holdings in shares of IPG Photonics by 1.6% in the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock valued at $895,000 after acquiring an additional 190 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of IPG Photonics by 4.0% in the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 237 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of IPG Photonics by 28.3% in 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 last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

IPG Photonics Stock Down 0.4 %

Shares of IPGP opened at $59.51 on Friday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -14.24 and a beta of 1.05. IPG Photonics Co. has a twelve month low of $56.71 and a twelve month high of $92.21. The company has a 50 day moving average of $68.06 and a two-hundred day moving average of $72.18.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share 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%. On average, sell-side analysts expect that IPG Photonics Co. will post 1.54 EPS for the current 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.