Occudo Quantitative Strategies LP Lowers Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Occudo Quantitative Strategies LP lowered its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,931 shares of the semiconductor company’s stock after selling 511 shares during the period. Occudo Quantitative Strategies LP’s holdings in IPG Photonics were worth $577,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in 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 during the period. SRS Capital Advisors Inc. raised its position in shares of IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after buying an additional 876 shares in the last quarter. Headlands Technologies LLC bought a new stake in IPG Photonics during the fourth quarter valued at $87,000. KBC Group NV grew its position in IPG Photonics by 48.5% during 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 grew its position in 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 buying an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IPGP shares. 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, May 7th. Citigroup lowered their target price 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. CL King raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Tuesday, March 18th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $69.50.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $65.35 on Thursday. The stock has a market capitalization of $2.78 billion, a P/E ratio of -15.63 and a beta of 0.92. IPG Photonics Co. has a one year low of $48.59 and a one year high of $92.21. The firm’s 50 day simple moving average is $59.31 and its two-hundred day simple moving average is $68.36.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. The company had revenue of $227.79 million for the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

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.