Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 999,649 shares of the semiconductor company's stock after buying an additional 28,606 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 2.31% of IPG Photonics worth $72,694,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in IPG Photonics by 56.7% in the fourth 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 during the last quarter. KBC Group NV raised 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 buying an additional 365 shares during the period. Assetmark Inc. grew its stake in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock valued at $99,000 after acquiring an additional 295 shares during the period. FMR LLC increased its holdings in IPG Photonics by 10.4% in 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 in the last quarter. Finally, Covestor Ltd raised its position in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company's stock worth $139,000 after acquiring an additional 133 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of research reports. Northcoast Research cut shares of IPG Photonics from a "buy" rating to a "neutral" rating in a research note on Wednesday, December 4th. Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a report on Wednesday. Finally, Benchmark reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IPG Photonics currently has an average rating of "Hold" and an average target price of $89.75.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP traded down $0.09 during trading on Thursday, hitting $62.88. 292,164 shares of the company were exchanged, compared to its average volume of 234,057. IPG Photonics Co. has a 12-month low of $60.72 and a 12-month high of $92.21. The company has a fifty day moving average price of $73.74 and a 200-day moving average price of $73.47. The firm has a market capitalization of $2.72 billion, a PE ratio of -18.12 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. Research analysts anticipate that IPG Photonics Co. will post 1.47 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.