IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 227,742 shares of the semiconductor company’s stock after selling 43,319 shares during the quarter. Exchange Traded Concepts LLC owned about 0.53% of IPG Photonics worth $16,561,000 at the end of the most recent reporting period.

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

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $75.40 on Friday. The firm has a market cap of $3.26 billion, a PE ratio of -21.70 and a beta of 0.96. IPG Photonics Co. has a one year low of $61.86 and a one year high of $104.19. The firm has a fifty day moving average of $75.40 and a 200 day moving average of $75.30.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the firm posted $1.16 EPS. IPG Photonics’s revenue was down 22.6% compared to the same quarter last year. On average, equities analysts predict that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

IPGP has been the subject of a number of analyst reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IPG Photonics currently has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics 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.