Retirement Systems of Alabama decreased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 45.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,531 shares of the semiconductor company’s stock after selling 40,085 shares during the period. Retirement Systems of Alabama’s holdings in IPG Photonics were worth $10,392,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Strs Ohio acquired a new stake in IPG Photonics during the 4th quarter worth $101,000. Bollard Group LLC boosted its stake in IPG Photonics by 145.5% during the 4th quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 291 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in IPG Photonics during the 4th quarter worth $128,000. C M Bidwell & Associates Ltd. boosted its stake in IPG Photonics by 114.3% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 600 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 320 shares during the period. Finally, Advantage Investment Management LLC boosted its stake in IPG Photonics by 366.5% during the 3rd quarter. Advantage Investment Management LLC now owns 933 shares of the semiconductor company’s stock worth $173,000 after purchasing an additional 733 shares during the period. Institutional investors and hedge funds own 57.33% of the company’s stock.
IPG Photonics Co. (NASDAQ IPGP) opened at $239.36 on Monday. The company has a market cap of $12,833.50, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.88. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.27 and a current ratio of 8.82. IPG Photonics Co. has a 12-month low of $116.02 and a 12-month high of $264.11.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.14. The business had revenue of $361.10 million during the quarter, compared to the consensus estimate of $345.63 million. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS. sell-side analysts expect that IPG Photonics Co. will post 7.63 earnings per share for the current year.
In other IPG Photonics news, SVP Trevor Ness sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the completion of the transaction, the senior vice president now directly owns 22,906 shares in the company, valued at approximately $4,768,342.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.53, for a total transaction of $653,825.00. Following the transaction, the chief financial officer now owns 33,600 shares of the company’s stock, valued at $8,787,408. The disclosure for this sale can be found here. Insiders sold a total of 49,500 shares of company stock valued at $11,979,620 in the last quarter. Insiders own 33.80% of the company’s stock.
A number of analysts recently weighed in on IPGP shares. BidaskClub cut shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Benchmark reiterated a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a research note on Wednesday, November 1st. ValuEngine cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Needham & Company LLC increased their price target on shares of IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 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. The company presently has an average rating of “Buy” and an average price target of $196.30.
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IPG Photonics Profile
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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