IPG Photonics Co. (NASDAQ:IPGP) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 2.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 999,649 shares of the semiconductor company’s stock after acquiring an additional 28,606 shares during the quarter. 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 institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in 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 in the last quarter. KBC Group NV increased its position in shares of IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 365 shares in the last quarter. Assetmark Inc. raised its holdings in shares of IPG Photonics by 28.3% during the third 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 lifted its position in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares in the last quarter. Finally, Covestor Ltd boosted its stake in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the period. 93.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on IPGP shares. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Needham & Company LLC 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, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Trading Down 2.7 %

Shares of NASDAQ:IPGP opened at $68.91 on Monday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -19.86 and a beta of 0.95. IPG Photonics Co. has a 1 year low of $61.86 and a 1 year high of $104.19. The business has a fifty day simple moving average of $74.51 and a 200 day simple moving average of $73.84.

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.