State of New Jersey Common Pension Fund D Boosts Stake in IPG Photonics Co. (NASDAQ:IPGP)

State of New Jersey Common Pension Fund D raised its position in IPG Photonics Co. (NASDAQ:IPGP) by 28.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,418 shares of the semiconductor company’s stock after purchasing an additional 6,286 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in IPG Photonics were worth $2,112,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of IPG Photonics in the 1st quarter valued at $52,000. Innealta Capital LLC acquired a new position in IPG Photonics in the 2nd quarter valued at about $85,000. Assetmark Inc. increased its stake 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. Covestor Ltd lifted its position in shares of 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 purchasing an additional 133 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of IPG Photonics by 97.6% in the first quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock valued at $178,000 after purchasing an additional 970 shares during the period. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $75.06 on Friday. IPG Photonics Co. has a 12 month low of $61.86 and a 12 month high of $111.11. The firm has a market capitalization of $3.25 billion, a PE ratio of -21.63 and a beta of 0.98. The business’s fifty day moving average price is $74.49 and its 200 day moving average price is $78.95.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, equities analysts anticipate that IPG Photonics Co. will post 1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James reduced their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research 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 given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average 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.