Sumitomo Mitsui Trust Group Inc. Has $72.69 Million Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 999,649 shares of the semiconductor company’s stock after buying an additional 28,606 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in IPG Photonics were worth $72,694,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in shares of IPG Photonics by 56.7% during the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 345 shares in the last quarter. KBC Group NV lifted its holdings in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares during the last quarter. Assetmark Inc. boosted its position in IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the period. FMR LLC grew its holdings in IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of IPG Photonics by 7.7% in the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 133 shares during the period. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Price Performance

NASDAQ IPGP opened at $68.91 on Monday. The company’s fifty day moving average is $74.51 and its two-hundred day moving average is $73.84. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $104.19. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -19.86 and a beta of 0.95.

Analyst Ratings Changes

Several research firms recently issued reports on IPGP. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $93.50.

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.