Sumitomo Mitsui Trust Holdings Inc. Trims Stake in IPG Photonics Co. (NASDAQ:IPGP)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 905,329 shares of the semiconductor company’s stock after selling 38,247 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in IPG Photonics were worth $82,104,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. VisionPoint Advisory Group LLC increased its position in shares of IPG Photonics by 127.2% in the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of IPG Photonics during the 4th quarter valued at $40,000. Disciplined Equity Management Inc. bought a new stake in shares of IPG Photonics during the 4th quarter worth $43,000. AM Squared Ltd grew its position in IPG Photonics by 200.0% in the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 400 shares in the last quarter. Finally, Mather Group LLC. bought a new position in IPG Photonics in the first quarter valued at $67,000. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

Shares of IPGP stock opened at $84.58 on Friday. IPG Photonics Co. has a fifty-two week low of $80.27 and a fifty-two week high of $141.85. The company has a market capitalization of $3.85 billion, a P/E ratio of 21.80 and a beta of 1.01. The stock has a 50 day moving average price of $85.98 and a two-hundred day moving average price of $91.35.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The firm’s revenue was down 27.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. As a group, equities analysts predict that IPG Photonics Co. will post 2.77 earnings per share for the current year.

Insider Transactions at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jeanmarie F. Desmond sold 985 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of IPG Photonics stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the completion of the sale, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,773 shares of company stock worth $927,030. Company insiders own 38.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IPGP. Benchmark cut their price objective on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Citigroup cut their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.40.

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.