IPG Photonics Co. (IPGP) Position Increased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,405 shares of the semiconductor company’s stock after buying an additional 10,835 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in IPG Photonics were worth $29,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC raised its stake in IPG Photonics by 13,274.9% during the 1st quarter. Summit Trail Advisors LLC now owns 103,923 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 103,146 shares during the last quarter. Pendal Group Ltd acquired a new position in IPG Photonics during the 2nd quarter valued at $162,000. Tiverton Asset Management LLC acquired a new position in IPG Photonics during the 1st quarter valued at $171,000. C M Bidwell & Associates Ltd. raised its stake in IPG Photonics by 41.7% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 850 shares of the semiconductor company’s stock valued at $198,000 after purchasing an additional 250 shares during the last quarter. Finally, Wetherby Asset Management Inc. acquired a new position in IPG Photonics during the 2nd quarter valued at $205,000. 56.53% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $245.63, for a total value of $491,260.00. Following the completion of the transaction, the insider now owns 7,565,999 shares in the company, valued at approximately $1,858,436,334.37. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 33.40% of the company’s stock.

IPGP has been the subject of several research analyst reports. Zacks Investment Research cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Sanford C. Bernstein initiated coverage on shares of IPG Photonics in a research note on Wednesday, April 18th. They set an “outperform” rating and a $294.00 target price for the company. BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 26th. Finally, Northcoast Research restated a “buy” rating and issued a $208.00 price objective on shares of IPG Photonics in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $242.00.

Shares of IPG Photonics opened at $162.47 on Monday, Marketbeat Ratings reports. IPG Photonics Co. has a 52-week low of $161.51 and a 52-week high of $264.11. The firm has a market capitalization of $8.72 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.69 and a beta of 1.83. The company has a quick ratio of 6.94, a current ratio of 8.73 and a debt-to-equity ratio of 0.02.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). IPG Photonics had a net margin of 25.96% and a return on equity of 21.55%. The business had revenue of $413.61 million during the quarter, compared to analyst estimates of $418.61 million. During the same quarter in the prior year, the company posted $1.91 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. equities research analysts forecast that IPG Photonics Co. will post 8.02 earnings per share for the current year.

IPG Photonics Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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