Sumitomo Mitsui Trust Group Inc. Raises Position in IPG Photonics Co. (NASDAQ:IPGP)

Sumitomo Mitsui Trust Group Inc. raised its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 971,043 shares of the semiconductor company's stock after acquiring an additional 54,166 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 2.25% of IPG Photonics worth $72,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in IPG Photonics in the 1st quarter worth $52,000. Innealta Capital LLC purchased a new position in shares of IPG Photonics during the 2nd quarter worth about $85,000. Assetmark Inc. raised its holdings in shares of IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock worth $99,000 after buying an additional 295 shares during the period. Covestor Ltd lifted its position in shares of IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company's stock worth $157,000 after purchasing an additional 838 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its position in IPG Photonics by 97.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company's stock valued at $178,000 after buying an additional 970 shares during the period. 93.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPGP has been the subject of several research reports. Raymond James lowered their price target on shares of IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their price objective on IPG Photonics from $115.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IPG Photonics presently has a consensus rating of "Hold" and an average price target of $93.50.

IPG Photonics Price Performance

IPG Photonics stock traded down $1.61 during trading on Friday, reaching $73.45. 167,228 shares of the company were exchanged, compared to its average volume of 265,515. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11. The company has a market capitalization of $3.18 billion, a P/E ratio of -21.17 and a beta of 0.98. The stock's 50 day simple moving average is $74.70 and its two-hundred day simple moving average is $78.84.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same quarter last year, the firm posted $1.16 earnings per share. IPG Photonics's revenue was down 22.6% compared to the same quarter last year. As a group, equities analysts forecast that IPG Photonics Co. will post 1.53 earnings per share for the current 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.