Waterfront Wealth Inc. Boosts Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Waterfront Wealth Inc. grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,310 shares of the semiconductor company’s stock after buying an additional 190 shares during the quarter. Waterfront Wealth Inc.’s holdings in IPG Photonics were worth $895,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in shares of IPG Photonics by 16.3% during the 4th quarter. Handelsbanken Fonder AB now owns 10,000 shares of the semiconductor company’s stock worth $727,000 after buying an additional 1,400 shares in the last quarter. Venturi Wealth Management LLC raised its position in IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 818 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in IPG Photonics by 34.0% in the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock valued at $27,310,000 after acquiring an additional 95,199 shares during the period. Rhumbline Advisers boosted its position in shares of IPG Photonics by 0.8% during the 4th quarter. Rhumbline Advisers now owns 75,503 shares of the semiconductor company’s stock worth $5,491,000 after purchasing an additional 580 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new position in shares of IPG Photonics during the 4th quarter worth $230,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus reduced 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. Citigroup reduced their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IPG Photonics currently has an average rating of “Hold” and an average price target of $87.75.

IPG Photonics Price Performance

IPGP stock opened at $63.17 on Friday. The company’s 50 day simple moving average is $71.76 and its 200-day simple moving average is $72.83. IPG Photonics Co. has a 12 month low of $60.72 and a 12 month high of $92.21. The firm has a market capitalization of $2.73 billion, a PE ratio of -15.11 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last posted its 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 negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, sell-side analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current year.

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.