5,700 Shares in IPG Photonics Co. (NASDAQ:IPGP) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in IPG Photonics Co. (NASDAQ:IPGP) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 5,700 shares of the semiconductor company’s stock, valued at approximately $415,000.

Other institutional investors also recently bought and sold shares of the company. Beaumont Financial Advisors LLC grew its position in shares of IPG Photonics by 4.2% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock valued at $248,000 after purchasing an additional 139 shares during the period. Cerity Partners LLC lifted its position in IPG Photonics by 5.7% during the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company’s stock worth $222,000 after buying an additional 163 shares during the period. Waterfront Wealth Inc. boosted its stake in IPG Photonics by 1.6% in the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock worth $895,000 after buying an additional 190 shares during the last quarter. Xponance Inc. grew its holdings in IPG Photonics by 7.6% in the 4th quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 226 shares during the period. Finally, Calamos Wealth Management LLC increased its stake in shares of IPG Photonics by 4.0% during 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. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Trading Up 0.4 %

Shares of IPGP stock opened at $58.15 on Friday. The company has a market cap of $2.47 billion, a PE ratio of -13.91 and a beta of 0.97. The company’s fifty day simple moving average is $59.41 and its 200-day simple moving average is $69.63. IPG Photonics Co. has a 52 week low of $48.59 and a 52 week high of $92.21.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data 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%. Equities research analysts expect that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

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