Vanguard Group Inc. Sells 220,372 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Vanguard Group Inc. lessened its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,004,567 shares of the semiconductor company's stock after selling 220,372 shares during the period. Vanguard Group Inc. owned 6.95% of IPG Photonics worth $218,492,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Pacific Heights Asset Management LLC raised its position in IPG Photonics by 375.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after purchasing an additional 240,000 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock worth $13,011,000 after acquiring an additional 145,616 shares during the period. Raymond James Financial Inc. bought a new stake in IPG Photonics in the fourth quarter valued at approximately $8,815,000. Baillie Gifford & Co. increased its position in IPG Photonics by 34.0% during the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company's stock valued at $27,310,000 after purchasing an additional 95,199 shares during the period. Finally, American Century Companies Inc. raised its holdings in IPG Photonics by 1,076.7% during the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock worth $6,826,000 after purchasing an additional 85,889 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

IPG Photonics Stock Performance

NASDAQ:IPGP traded down $4.59 during trading on Thursday, reaching $52.88. The company's stock had a trading volume of 325,997 shares, compared to its average volume of 275,624. IPG Photonics Co. has a 12 month low of $48.59 and a 12 month high of $92.21. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -12.65 and a beta of 0.97. The firm has a 50 day moving average of $62.08 and a 200-day moving average of $71.06.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities research analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IPGP shares. Citigroup reduced 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 reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Finally, CL King upgraded IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price on the stock in a report on Tuesday, March 18th. 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.