IPG Photonics Co. (NASDAQ:IPGP) Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,519 shares of the semiconductor company’s stock after selling 4,239 shares during the period. Thrivent Financial for Lutherans’ holdings in IPG Photonics were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Beaumont Financial Advisors LLC raised its holdings in shares of IPG Photonics by 4.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock valued at $248,000 after acquiring an additional 139 shares during the period. FMR LLC lifted its holdings in shares of IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares in the last quarter. Waterfront Wealth Inc. boosted its position in shares of IPG Photonics by 1.6% in the fourth quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock worth $895,000 after buying an additional 190 shares during the period. Calamos Wealth Management LLC raised its position in IPG Photonics by 4.0% during the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 237 shares during the period. Finally, Versant Capital Management Inc lifted 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 acquiring an additional 345 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Trading Down 3.1 %

IPGP stock opened at $63.14 on Tuesday. The firm has a market cap of $2.69 billion, a PE ratio of -15.11 and a beta of 1.04. IPG Photonics Co. has a 1 year low of $56.71 and a 1 year high of $92.21. The company has a fifty day simple moving average of $65.76 and a 200 day simple moving average of $72.09.

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

Analyst Ratings Changes

IPGP has been the topic of several research analyst reports. CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, March 18th. Citigroup dropped their price objective on shares of 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 lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.