Amundi Sells 12,900 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Amundi cut its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 55.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,500 shares of the semiconductor company’s stock after selling 12,900 shares during the quarter. Amundi’s holdings in IPG Photonics were worth $776,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Pacific Heights Asset Management LLC raised its holdings in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock valued at $22,107,000 after purchasing an additional 240,000 shares during the period. Pacer Advisors Inc. increased its position in IPG Photonics by 37.2% during the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after buying an additional 181,844 shares during the last quarter. Retirement Systems of Alabama raised its stake in 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 buying an additional 145,616 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of IPG Photonics in the fourth quarter valued at approximately $8,815,000. Finally, Baillie Gifford & Co. increased its holdings in shares of IPG Photonics by 34.0% during the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after acquiring an additional 95,199 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on IPGP. Citigroup cut their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Tuesday. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.40.

IPG Photonics Stock Up 0.2 %

Shares of IPG Photonics stock opened at $66.26 on Thursday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -15.85 and a beta of 1.04. IPG Photonics Co. has a twelve month low of $56.71 and a twelve month high of $92.21. The company has a 50-day simple moving average of $67.00 and a two-hundred day simple moving average of $71.98.

IPG Photonics (NASDAQ:IPGP) last released 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%. On average, sell-side analysts anticipate that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal 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.