Louisiana State Employees Retirement System decreased its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,500 shares of the semiconductor company’s stock after selling 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in IPG Photonics were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in IPGP. Cubist Systematic Strategies LLC purchased a new position in IPG Photonics during the second quarter valued at $352,000. Prudential PLC lifted its position in IPG Photonics by 12.3% during the second quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock valued at $6,239,000 after buying an additional 4,700 shares during the period. Canada Pension Plan Investment Board purchased a new position in IPG Photonics during the third quarter valued at $8,013,000. Alps Advisors Inc. lifted its position in IPG Photonics by 14.4% during the third quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after buying an additional 582 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in IPG Photonics during the third quarter valued at $1,374,000. 56.38% of the stock is owned by institutional investors.
In related news, SVP Angelo P. Lopresti sold 9,500 shares of IPG Photonics stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $261.49, for a total value of $2,484,155.00. Following the completion of the sale, the senior vice president now directly owns 46,765 shares in the company, valued at approximately $12,228,579.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henry E. Gauthier sold 5,000 shares of IPG Photonics stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $257.52, for a total value of $1,287,600.00. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $3,889,582.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,000 shares of company stock valued at $10,063,495. 33.80% of the stock is owned by insiders.
Several equities analysts have commented on IPGP shares. Zacks Investment Research lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of IPG Photonics in a research report on Wednesday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective (up previously from $182.00) on shares of IPG Photonics in a research report on Friday, October 20th. DA Davidson reissued a “buy” rating and set a $220.00 price objective on shares of IPG Photonics in a research report on Tuesday, October 10th. Finally, ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $180.33.
IPG Photonics Corporation (IPGP) opened at $260.75 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. The stock has a market capitalization of $13,991.06, a PE ratio of 38.40, a PEG ratio of 2.85 and a beta of 1.71. IPG Photonics Corporation has a 52-week low of $100.26 and a 52-week high of $264.11.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.32. The firm had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. IPG Photonics’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. research analysts expect that IPG Photonics Corporation will post 7.13 earnings per share for the current year.
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About IPG Photonics
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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