California State Teachers Retirement System increased its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,276 shares of the semiconductor company’s stock after buying an additional 386 shares during the period. California State Teachers Retirement System’s holdings in IPG Photonics were worth $12,479,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of IPGP. Raymond James Financial Services Advisors Inc. bought a new position in IPG Photonics in the third quarter worth approximately $287,000. Sei Investments Co. raised its stake in IPG Photonics by 16.2% in the third quarter. Sei Investments Co. now owns 7,954 shares of the semiconductor company’s stock worth $1,472,000 after buying an additional 1,106 shares in the last quarter. New York State Common Retirement Fund raised its stake in IPG Photonics by 1.5% in the third quarter. New York State Common Retirement Fund now owns 99,915 shares of the semiconductor company’s stock worth $18,490,000 after buying an additional 1,500 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in IPG Photonics in the third quarter worth approximately $489,000. Finally, Advisor Group Inc. raised its stake in IPG Photonics by 40.2% in the third quarter. Advisor Group Inc. now owns 3,438 shares of the semiconductor company’s stock worth $637,000 after buying an additional 985 shares in the last quarter. 57.08% of the stock is owned by institutional investors.
A number of equities analysts recently commented on IPGP shares. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up previously from $230.00) on shares of IPG Photonics in a research note on Tuesday, February 20th. DA Davidson lifted their price target on shares of IPG Photonics from $1.86 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Canaccord Genuity lifted their price target on shares of IPG Photonics from $210.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. Finally, ValuEngine raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $213.60.
IPG Photonics Co. (NASDAQ IPGP) opened at $239.73 on Friday. The company has a quick ratio of 7.27, a current ratio of 8.82 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a 1-year low of $116.82 and a 1-year high of $264.11. The stock has a market cap of $13,656.20, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 2.51 and a beta of 1.84.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The business had revenue of $361.10 million for the quarter, compared to analyst estimates of $345.63 million. During the same period in the previous year, the company earned $1.39 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. sell-side analysts anticipate that IPG Photonics Co. will post 8.37 EPS for the current fiscal year.
In other news, CFO Timothy Pv Mammen sold 12,500 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $243.41, for a total transaction of $3,042,625.00. Following the sale, the chief financial officer now directly owns 38,040 shares of the company’s stock, valued at $9,259,316.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Peeler sold 2,266 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $252.95, for a total transaction of $573,184.70. Following the sale, the director now directly owns 9,270 shares in the company, valued at $2,344,846.50. The disclosure for this sale can be found here. Insiders have sold 60,500 shares of company stock worth $15,095,172 over the last three months. Corporate insiders own 33.80% of the company’s stock.
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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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