Xact Kapitalforvaltning AB lessened its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,320 shares of the semiconductor company’s stock after selling 586 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in IPG Photonics were worth $829,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ipswich Investment Management Co. Inc. acquired a new stake in shares of IPG Photonics in the 4th quarter valued at $44,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of IPG Photonics by 205.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 638 shares of the semiconductor company’s stock valued at $100,000 after purchasing an additional 429 shares in the last quarter. Elefante Mark B acquired a new stake in shares of IPG Photonics in the 3rd quarter valued at $217,000. Malaga Cove Capital LLC acquired a new stake in shares of IPG Photonics in the 3rd quarter valued at $231,000. Finally, We Are One Seven LLC acquired a new stake in shares of IPG Photonics in the 3rd quarter valued at $256,000. 60.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on IPGP. BidaskClub downgraded IPG Photonics from a “sell” rating to a “strong sell” rating in a report on Saturday, December 8th. DA Davidson dropped their price target on IPG Photonics to $180.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. TheStreet cut IPG Photonics from a “b-” rating to a “c+” rating in a research note on Friday, December 28th. ValuEngine upgraded IPG Photonics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 31st. Finally, Northcoast Research reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $205.67.
NASDAQ:IPGP traded down $0.99 during trading hours on Monday, hitting $137.81. 4,788 shares of the company were exchanged, compared to its average volume of 369,284. The firm has a market cap of $7.35 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.10 and a beta of 1.80. The company has a quick ratio of 6.81, a current ratio of 8.64 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a one year low of $104.64 and a one year high of $261.77.
In related news, CAO Thomas J. Burgomaster sold 294 shares of the firm’s stock in a transaction on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total transaction of $27,547.80. Following the completion of the transaction, the chief accounting officer now directly owns 6,037 shares of the company’s stock, valued at approximately $565,666.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 33.40% of the stock is owned by company insiders.
IPG Photonics Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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