Pacer Advisors Inc. Sells 667,029 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Pacer Advisors Inc. trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 99.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,996 shares of the semiconductor company’s stock after selling 667,029 shares during the period. Pacer Advisors Inc.’s holdings in IPG Photonics were worth $291,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in IPG Photonics by 56.7% in the fourth 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 lifted its position in shares of IPG Photonics by 50.6% during 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 period. Assetmark Inc. boosted its stake in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after buying an additional 295 shares in the last quarter. FMR LLC boosted its stake in 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 buying an additional 153 shares in the last quarter. Finally, Covestor Ltd grew its position in IPG Photonics by 7.7% in the third 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 period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IPGP. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IPG Photonics currently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Up 1.1 %

Shares of IPGP stock opened at $70.93 on Wednesday. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $104.19. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -20.44 and a beta of 0.95. The stock has a 50-day moving average price of $74.94 and a 200 day moving average price of $74.23.

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.