Thrivent Financial for Lutherans Sells 1,525 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Thrivent Financial for Lutherans cut its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,758 shares of the semiconductor company’s stock after selling 1,525 shares during the period. Thrivent Financial for Lutherans’ holdings in IPG Photonics were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Covestor Ltd boosted its position in shares of IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after acquiring an additional 133 shares during the last quarter. Fiera Capital Corp raised its stake in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after purchasing an additional 193 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 278 shares during the last quarter. Assetmark Inc. grew its stake in shares of IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after buying an additional 295 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of IPG Photonics by 50.6% in 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 last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Trading Up 1.0 %

IPGP stock opened at $78.04 on Friday. The stock has a market cap of $3.38 billion, a PE ratio of -22.49 and a beta of 0.98. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The company has a 50-day moving average price of $76.40 and a 200 day moving average price of $78.12.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. Sell-side analysts forecast that IPG Photonics Co. will post 1.51 EPS for the current year.

IPG Photonics 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.