IPG Photonics Co. (NASDAQ:IPGP) Stock Position Lowered by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 905,329 shares of the semiconductor company’s stock after selling 38,247 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 1.96% of IPG Photonics worth $82,104,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Channing Capital Management LLC acquired a new position in IPG Photonics during the fourth quarter valued at $70,719,000. Norges Bank acquired a new stake in shares of IPG Photonics during the fourth quarter worth approximately $36,365,000. New York State Common Retirement Fund grew its position in IPG Photonics by 636.6% during the fourth quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock valued at $22,197,000 after purchasing an additional 176,739 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in IPG Photonics in the 4th quarter valued at approximately $16,035,000. Finally, Invenomic Capital Management LP lifted its position in IPG Photonics by 123.5% in the 4th quarter. Invenomic Capital Management LP now owns 216,978 shares of the semiconductor company’s stock worth $23,551,000 after buying an additional 119,900 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jeanmarie F. Desmond sold 985 shares of IPG Photonics stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Meurice sold 788 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the sale, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. Insiders have sold a total of 10,773 shares of company stock valued at $927,030 over the last 90 days. 38.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IPGP has been the topic of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Benchmark lowered their target price on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Citigroup cut their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IPG Photonics currently has an average rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Price Performance

IPG Photonics stock opened at $84.58 on Friday. IPG Photonics Co. has a one year low of $80.27 and a one year high of $141.85. The company’s fifty day moving average price is $85.98 and its two-hundred day moving average price is $91.35. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.80 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. During the same quarter in the prior year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. As a group, sell-side analysts anticipate that IPG Photonics Co. will post 2.77 earnings per share for the current year.

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.