Thrivent Financial for Lutherans lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP – Free Report) by 24.4% in the second quarter, Holdings Channel reports. The institutional investor owned 22,283 shares of the semiconductor company’s stock after selling 7,182 shares during the period. Thrivent Financial for Lutherans’ holdings in IPG Photonics were worth $1,881,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IPGP. Treasurer of the State of North Carolina increased its holdings in shares of IPG Photonics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock worth $1,444,000 after purchasing an additional 130 shares in the last quarter. Fiera Capital Corp raised its position in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after purchasing an additional 193 shares during the period. State of Michigan Retirement System increased its position in IPG Photonics by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock valued at $662,000 after acquiring an additional 200 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after buying an additional 278 shares during the period. Finally, KBC Group NV lifted its position in shares of IPG Photonics by 6.2% during the fourth quarter. KBC Group NV now owns 5,199 shares of the semiconductor company’s stock worth $564,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.
IPG Photonics Trading Up 1.8 %
NASDAQ:IPGP opened at $73.16 on Thursday. The stock has a 50 day moving average of $70.54 and a two-hundred day moving average of $81.11. The firm has a market cap of $3.33 billion, a P/E ratio of 18.86 and a beta of 1.00. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on IPGP shares. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $93.40.
View Our Latest Analysis on IPG Photonics
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.
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