Wealthfront Advisers LLC Takes Position in IPG Photonics Co. (NASDAQ:IPGP)

Wealthfront Advisers LLC purchased a new stake in IPG Photonics Co. (NASDAQ:IPGP) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 78,078 shares of the semiconductor company’s stock, valued at approximately $5,678,000.

A number of other institutional investors have also made changes to their positions in the company. Inspire Advisors LLC bought a new stake in shares of IPG Photonics in the 4th quarter valued at approximately $213,000. Pacific Heights Asset Management LLC grew its stake in IPG Photonics by 375.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock worth $22,107,000 after buying an additional 240,000 shares during the last quarter. Inceptionr LLC bought a new position in IPG Photonics during the 4th quarter worth $492,000. LHM Inc. grew its stake in IPG Photonics by 4.8% during the 4th quarter. LHM Inc. now owns 58,769 shares of the semiconductor company’s stock worth $4,274,000 after buying an additional 2,700 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in IPG Photonics during the 4th quarter worth $8,815,000. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Stock Performance

Shares of IPGP stock opened at $59.73 on Thursday. IPG Photonics Co. has a 1 year low of $56.71 and a 1 year high of $92.21. The stock has a fifty day moving average of $68.32 and a two-hundred day moving average of $72.27. The firm has a market capitalization of $2.54 billion, a PE ratio of -14.29 and a beta of 1.05.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (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 predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.