IPG Photonics Co. (NASDAQ:IPGP) Position Trimmed by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 14.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 196,630 shares of the semiconductor company's stock after selling 33,617 shares during the period. Legal & General Group Plc owned approximately 0.45% of IPG Photonics worth $14,299,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IPGP. Pacific Heights Asset Management LLC increased its stake in IPG Photonics by 375.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after acquiring an additional 240,000 shares during the last quarter. Retirement Systems of Alabama boosted its position in IPG Photonics by 437.2% in the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock valued at $13,011,000 after buying an additional 145,616 shares during the period. Raymond James Financial Inc. purchased a new position in IPG Photonics in the fourth quarter valued at $8,815,000. Baillie Gifford & Co. boosted its stake 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 buying an additional 95,199 shares during the period. Finally, American Century Companies Inc. grew its holdings in IPG Photonics by 1,076.7% during the 4th quarter. American Century Companies Inc. now owns 93,866 shares of the semiconductor company's stock worth $6,826,000 after acquiring an additional 85,889 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IPGP shares. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Citigroup dropped their price target on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research note on Tuesday, February 18th. CL King raised shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target for the company in a report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their target price on IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, IPG Photonics has a consensus rating of "Hold" and an average target price of $85.40.

IPG Photonics Price Performance

IPGP traded down $0.74 during trading on Monday, hitting $52.56. The company's stock had a trading volume of 18,744 shares, compared to its average volume of 278,324. IPG Photonics Co. has a twelve month low of $48.59 and a twelve month high of $92.21. The firm's 50 day moving average price is $60.21 and its 200-day moving average price is $70.22. The stock has a market cap of $2.24 billion, a PE ratio of -12.58 and a beta of 0.97.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate 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%. Equities analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current year.

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.