AI Squared Management Ltd Acquires New Stake in IPG Photonics Co. (NASDAQ:IPGP)

AI Squared Management Ltd acquired a new stake in IPG Photonics Co. (NASDAQ:IPGP) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 39,500 shares of the semiconductor company’s stock, valued at approximately $2,872,000. IPG Photonics comprises about 3.0% of AI Squared Management Ltd’s holdings, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of IPGP. Pacific Heights Asset Management LLC increased its holdings 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 purchasing an additional 240,000 shares during the period. Retirement Systems of Alabama increased its stake in shares of IPG Photonics by 437.2% during the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock valued at $13,011,000 after buying an additional 145,616 shares during the period. Raymond James Financial Inc. bought a new stake in shares of IPG Photonics in the fourth quarter valued at about $8,815,000. Baillie Gifford & Co. lifted its stake in IPG Photonics by 34.0% in the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after acquiring an additional 95,199 shares during the period. Finally, American Century Companies Inc. grew its holdings in IPG Photonics by 1,076.7% during the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company’s stock worth $6,826,000 after acquiring an additional 85,889 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 5.6 %

IPGP opened at $67.62 on Tuesday. The firm has a market capitalization of $2.88 billion, a PE ratio of -16.18 and a beta of 1.04. IPG Photonics Co. has a 12-month low of $56.71 and a 12-month high of $92.21. The firm has a 50 day moving average of $66.58 and a two-hundred day moving average of $72.01.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate 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%. As a group, analysts predict that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Tuesday, March 18th. Citigroup cut their price target 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. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, Stifel Nicolaus decreased their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.