Comerica Bank Lowers Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Comerica Bank trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 27,182 shares of the semiconductor company’s stock after selling 483 shares during the quarter. Comerica Bank’s holdings in IPG Photonics were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPGP. Venturi Wealth Management LLC lifted its position in shares of IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 818 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings 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 bought a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $87,000. KBC Group NV lifted its holdings in shares of 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 buying an additional 527 shares in the last quarter. Finally, Sterling Capital Management LLC boosted 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 acquiring an additional 572 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $60.15 on Friday. IPG Photonics Co. has a fifty-two week low of $48.59 and a fifty-two week high of $92.21. The company has a market cap of $2.57 billion, a PE ratio of -14.39 and a beta of 0.92. The business has a 50-day simple moving average of $59.17 and a two-hundred day simple moving average of $68.58.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $227.79 million for the quarter, compared to analyst estimates of $227.00 million. During the same quarter in the prior year, the business posted $0.52 EPS. IPG Photonics’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on IPGP. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. CL King raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday, March 18th. Citigroup dropped their price objective on shares of 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 dropped 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and a consensus target price of $69.50.

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.