IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,500 shares of the semiconductor company’s stock after selling 1,300 shares during the quarter. Swiss National Bank owned approximately 0.13% of IPG Photonics worth $4,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in IPG Photonics by 23.8% in the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 1,385 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of IPG Photonics during the 3rd quarter valued at approximately $190,000. Fisher Asset Management LLC lifted its holdings in IPG Photonics by 4.3% in the third quarter. Fisher Asset Management LLC now owns 192,050 shares of the semiconductor company’s stock valued at $14,273,000 after acquiring an additional 7,911 shares during the last quarter. Quantbot Technologies LP grew its position in IPG Photonics by 57.7% in the third quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company’s stock worth $1,728,000 after acquiring an additional 8,507 shares during the period. Finally, FMR LLC increased its stake in IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 1.8 %

Shares of NASDAQ IPGP opened at $66.41 on Wednesday. IPG Photonics Co. has a 12-month low of $56.71 and a 12-month high of $92.21. The stock has a market cap of $2.83 billion, a P/E ratio of -15.89 and a beta of 1.04. The business’s fifty day simple moving average is $66.45 and its 200-day simple moving average is $72.04.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. On average, equities analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IPGP. Citigroup decreased their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Stifel Nicolaus dropped their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $85.40.

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.