Bank of New York Mellon Corp Reduces Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Bank of New York Mellon Corp decreased its stake in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 249,020 shares of the semiconductor company's stock after selling 18,031 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of IPG Photonics worth $18,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings 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 worth $69,000 after purchasing an additional 345 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 818 shares during the last quarter. KBC Group NV lifted its stake in shares of IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock worth $81,000 after acquiring an additional 365 shares during the last quarter. Assetmark Inc. lifted its stake in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock worth $99,000 after acquiring an additional 295 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of IPG Photonics by 10.4% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 93.79% of the company's stock.

IPG Photonics Trading Down 4.4 %

IPGP opened at $58.78 on Wednesday. IPG Photonics Co. has a 12 month low of $56.71 and a 12 month high of $92.21. The stock has a fifty day moving average price of $68.60 and a 200-day moving average price of $72.36. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -14.06 and a beta of 1.05.

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IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share 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%. On average, equities research analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. 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 report on Wednesday, February 12th. Stifel Nicolaus decreased their target price on IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup decreased their target price on IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $87.75.

IPG Photonics 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.

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