Ballast Asset Management LP Cuts Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Ballast Asset Management LP decreased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,261 shares of the semiconductor company’s stock after selling 455 shares during the period. Ballast Asset Management LP owned 0.08% of IPG Photonics worth $2,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of IPGP. Versant Capital Management Inc increased its position in shares of IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 345 shares in the last quarter. Venturi Wealth Management LLC grew its stake in IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock worth $76,000 after buying an additional 818 shares during the last quarter. SRS Capital Advisors Inc. increased its position in IPG Photonics by 463.5% during the 4th 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 in the last quarter. Headlands Technologies LLC purchased a new stake in IPG Photonics in the fourth quarter valued at about $87,000. Finally, KBC Group NV boosted its holdings in IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 527 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Trading Down 3.1 %

Shares of NASDAQ IPGP opened at $63.14 on Tuesday. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -15.11 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 company has a 50 day simple moving average of $65.76 and a two-hundred day simple moving average of $72.09.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results 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 negative net margin of 18.58% and a positive return on equity of 2.98%. Analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IPGP shares. 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. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, CL King upgraded IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $85.40.

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.