Millstone Evans Group LLC Makes New $145,000 Investment in IPG Photonics Co. (NASDAQ:IPGP)

Millstone Evans Group LLC acquired a new position in IPG Photonics Co. (NASDAQ:IPGP) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,000 shares of the semiconductor company’s stock, valued at approximately $145,000.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 345 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of IPG Photonics by 463.5% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 876 shares in the last quarter. KBC Group NV raised its stake in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares in the last quarter. Finally, FMR LLC raised its stake in IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Trading Down 2.0 %

NASDAQ IPGP opened at $64.06 on Friday. IPG Photonics Co. has a 52 week low of $56.71 and a 52 week high of $92.21. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -15.33 and a beta of 1.04. The company has a 50-day moving average price of $66.67 and a two-hundred day moving average price of $71.95.

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

Wall Street Analyst Weigh In

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