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

Swiss National Bank lowered its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 2.2% during the fourth quarter, HoldingsChannel reports. The fund owned 56,500 shares of the semiconductor company’s stock after selling 1,300 shares during the period. Swiss National Bank’s holdings in IPG Photonics were worth $4,109,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pacific Heights Asset Management LLC boosted its stake in IPG Photonics by 375.0% in the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock valued at $22,107,000 after acquiring an additional 240,000 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock valued at $13,011,000 after acquiring an additional 145,616 shares during the period. Raymond James Financial Inc. purchased a new position in shares of IPG Photonics during the fourth quarter worth approximately $8,815,000. Baillie Gifford & Co. increased its holdings in shares of IPG Photonics by 34.0% in the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock valued at $27,310,000 after acquiring an additional 95,199 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in IPG Photonics in the 4th quarter valued at $5,678,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Ratings Changes

IPGP has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Tuesday, March 18th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price target 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.40.

IPG Photonics Trading Down 1.8 %

Shares of IPGP opened at $66.41 on Wednesday. IPG Photonics Co. has a twelve month low of $56.71 and a twelve month high of $92.21. The firm has a market capitalization of $2.83 billion, a P/E ratio of -15.89 and a beta of 1.04. The stock’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 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 negative net margin of 18.58% and a positive return on equity of 2.98%. Sell-side analysts predict that IPG Photonics Co. will post 1.54 earnings per share for the current year.

About IPG Photonics

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.