Polar Asset Management Partners Inc. Sells 28,000 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Polar Asset Management Partners Inc. lowered its position in IPG Photonics Co. (NASDAQ:IPGP) by 26.8% during the 4th quarter, Holdings Channel reports. The fund owned 76,600 shares of the semiconductor company’s stock after selling 28,000 shares during the period. Polar Asset Management Partners Inc.’s holdings in IPG Photonics were worth $5,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IPGP. Pacific Heights Asset Management LLC boosted its holdings in IPG Photonics by 375.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock worth $22,107,000 after acquiring an additional 240,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after acquiring an additional 173,584 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock worth $13,011,000 after acquiring an additional 145,616 shares in the last quarter. Raymond James Financial Inc. bought a new position in IPG Photonics in the fourth quarter worth approximately $8,815,000. Finally, Ameriprise Financial Inc. raised its stake in shares of IPG Photonics by 65.1% in the fourth quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company’s stock worth $21,732,000 after purchasing an additional 117,846 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 0.1%

Shares of IPG Photonics stock opened at $65.40 on Friday. The business’s fifty day simple moving average is $59.38 and its 200 day simple moving average is $68.26. The firm has a market capitalization of $2.78 billion, a P/E ratio of -15.65 and a beta of 0.92. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21.

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

Analyst Ratings Changes

Several brokerages have recently commented on IPGP. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. StockNews.com raised IPG Photonics from a “sell” rating to a “hold” rating in a research note on Thursday. CL King raised 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 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. Finally, Raymond James decreased their price target on IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $69.50.

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.