JPMorgan Chase & Co. Cuts Stake in IPG Photonics Co. (NASDAQ:IPGP)

JPMorgan Chase & Co. lessened its stake in IPG Photonics Co. (NASDAQ:IPGP) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,771 shares of the semiconductor company’s stock after selling 10,371 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.33% of IPG Photonics worth $10,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares during the last quarter. Jane Street Group LLC grew its holdings in IPG Photonics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock valued at $1,618,000 after buying an additional 10,906 shares in the last quarter. XTX Topco Ltd bought a new stake in IPG Photonics in the 3rd quarter worth approximately $356,000. Barclays PLC raised its holdings in shares of IPG Photonics by 42.5% during the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock worth $2,883,000 after acquiring an additional 11,562 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of IPG Photonics by 56.7% during 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 last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 1.4 %

IPG Photonics stock opened at $54.50 on Tuesday. The firm has a market capitalization of $2.32 billion, a PE ratio of -13.04 and a beta of 0.97. IPG Photonics Co. has a 12-month low of $48.59 and a 12-month high of $92.21. The firm has a 50-day moving average price of $61.39 and a 200-day moving average price of $70.78.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results 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, sell-side analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on IPGP. Citigroup decreased their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Stifel Nicolaus dropped their price target on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.40.

IPG Photonics Company Profile

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.