Sumitomo Mitsui Trust Group Inc. Trims Stake in IPG Photonics Corporation (NASDAQ:IPGP)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,085 shares of the semiconductor company's stock after selling 44,564 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 2.24% of IPG Photonics worth $60,304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IPGP. Y Intercept Hong Kong Ltd bought a new position in IPG Photonics in the fourth quarter valued at about $244,000. Fisher Asset Management LLC lifted its stake in shares of IPG Photonics by 30.1% in the fourth quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock worth $18,168,000 after acquiring an additional 57,780 shares during the period. SRS Capital Advisors Inc. raised its holdings in IPG Photonics by 463.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 876 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in IPG Photonics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company's stock valued at $26,879,000 after buying an additional 19,307 shares during the period. Finally, Victory Capital Management Inc. grew its stake in IPG Photonics by 57.4% during the fourth quarter. Victory Capital Management Inc. now owns 11,341 shares of the semiconductor company's stock worth $825,000 after purchasing an additional 4,136 shares during the period. Institutional investors own 93.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. CL King raised 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. Raymond James Financial reduced their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, IPG Photonics presently has a consensus rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Trading Up 2.7%

IPGP traded up $1.88 during trading on Wednesday, reaching $72.93. The stock had a trading volume of 23,707 shares, compared to its average volume of 291,488. IPG Photonics Corporation has a one year low of $48.59 and a one year high of $92.21. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -15.80, a P/E/G ratio of 11.06 and a beta of 0.90. The stock's 50 day moving average is $65.03 and its two-hundred day moving average is $65.60.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. The firm had revenue of $227.79 million during the quarter, compared to the consensus estimate of $227.00 million. During the same period last year, the company earned $0.52 earnings per share. The company's revenue was down 9.6% on a year-over-year basis. On average, equities research analysts predict that IPG Photonics Corporation will post 1.54 earnings per share for the current year.

IPG Photonics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.81%.

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.