IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,433 shares of the semiconductor company’s stock after selling 1,689 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of IPG Photonics worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of IPGP. Treasurer of the State of North Carolina increased its holdings in 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 valued at $1,444,000 after purchasing an additional 130 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of IPG Photonics by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the semiconductor company’s stock worth $771,000 after buying an additional 200 shares during the period. State of Michigan Retirement System grew its stake in shares of IPG Photonics by 2.8% in the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock valued at $662,000 after buying an additional 200 shares in the last quarter. Jump Financial LLC raised its holdings in shares of IPG Photonics by 1.1% in the 4th quarter. Jump Financial LLC now owns 22,800 shares of the semiconductor company’s stock valued at $2,475,000 after buying an additional 242 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IPG Photonics by 8.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,518 shares of the semiconductor company’s stock worth $364,000 after acquiring an additional 269 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 38.00% of the company’s stock.

IPG Photonics Trading Down 1.0 %

Shares of IPGP stock opened at $69.11 on Wednesday. IPG Photonics Co. has a 12 month low of $65.03 and a 12 month high of $111.11. The company has a market cap of $3.15 billion, a P/E ratio of 17.81 and a beta of 1.01. The firm has a fifty day moving average price of $79.20 and a 200 day moving average price of $84.59.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company’s revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. On average, equities analysts forecast that IPG Photonics Co. will post 1.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on IPGP shares. Raymond James dropped their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Citigroup cut their price objective on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Finally, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IPG Photonics presently has a consensus rating of “Hold” and a consensus target price of $93.40.

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.