Raiffeisen Bank International AG Purchases Shares of 35,000 IPG Photonics Co. (NASDAQ:IPGP)

Raiffeisen Bank International AG purchased a new stake in IPG Photonics Co. (NASDAQ:IPGP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,000 shares of the semiconductor company’s stock, valued at approximately $2,529,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in shares of IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 818 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 876 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of IPG Photonics during the fourth quarter worth approximately $87,000. KBC Group NV lifted its position in shares of IPG Photonics by 48.5% during the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 527 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of IPG Photonics by 52.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 572 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $65.40 on Friday. IPG Photonics Co. has a fifty-two week low of $48.59 and a fifty-two week high of $92.21. The firm has a market capitalization of $2.78 billion, a P/E ratio of -15.65 and a beta of 0.92. The company’s 50 day simple moving average is $59.38 and its 200 day simple moving average is $68.26.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The firm had revenue of $227.79 million during the quarter, compared to the consensus estimate of $227.00 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts expect that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. CL King upgraded 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. Citigroup cut their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. StockNews.com upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Raymond James cut their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.50.

IPG Photonics 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.