Lazard Asset Management LLC Has $77.75 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Lazard Asset Management LLC increased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,069,193 shares of the semiconductor company’s stock after acquiring an additional 9,852 shares during the quarter. Lazard Asset Management LLC owned about 2.47% of IPG Photonics worth $77,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake 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 buying an additional 818 shares during the period. SRS Capital Advisors Inc. lifted its stake 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 buying an additional 876 shares during the period. Headlands Technologies LLC acquired a new position in IPG Photonics in the fourth quarter valued at approximately $87,000. KBC Group NV lifted its stake in IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 527 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in IPG Photonics by 52.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 572 shares during the period. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Trading Up 7.7%

Shares of IPG Photonics stock opened at $64.81 on Tuesday. The firm has a market capitalization of $2.76 billion, a PE ratio of -15.50 and a beta of 0.92. The business’s 50-day moving average price is $59.20 and its 200-day moving average price is $68.40. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. IPG Photonics’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. As a group, analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IPGP shares. Stifel Nicolaus set a $72.00 price target on IPG Photonics in a research note on Monday, April 28th. Raymond James dropped their price target on IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, May 7th. StockNews.com lowered IPG Photonics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 7th. CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday, March 18th. Finally, Citigroup lowered their target price on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IPG Photonics presently has a consensus rating of “Hold” and an average target price of $69.50.

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.