Texas Permanent School Fund trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 11.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 8,086 shares of the semiconductor company’s stock after selling 1,088 shares during the quarter. Texas Permanent School Fund’s holdings in IPG Photonics were worth $1,262,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IPGP. Millennium Management LLC grew its position in IPG Photonics by 49.7% during the 1st quarter. Millennium Management LLC now owns 23,699 shares of the semiconductor company’s stock worth $5,531,000 after purchasing an additional 7,869 shares in the last quarter. IFM Investors Pty Ltd grew its position in IPG Photonics by 61.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 1,636 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 621 shares in the last quarter. State of Alaska Department of Revenue grew its position in IPG Photonics by 17.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,360 shares of the semiconductor company’s stock worth $1,623,000 after purchasing an additional 1,080 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in IPG Photonics by 21.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,185 shares of the semiconductor company’s stock worth $1,806,000 after purchasing an additional 1,421 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in IPG Photonics by 9.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,320 shares of the semiconductor company’s stock worth $2,498,000 after purchasing an additional 1,009 shares in the last quarter. Hedge funds and other institutional investors own 58.04% of the company’s stock.
Several research firms have weighed in on IPGP. BidaskClub upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. ValuEngine upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Zacks Investment Research cut shares of IPG Photonics from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Northcoast Research restated a “buy” rating and set a $208.00 price target on shares of IPG Photonics in a report on Thursday, August 2nd. Finally, DA Davidson lowered their price target on shares of IPG Photonics to $220.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. IPG Photonics presently has a consensus rating of “Hold” and a consensus target price of $219.75.
IPG Photonics stock opened at $137.79 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.81 and a current ratio of 8.64. IPG Photonics Co. has a 12 month low of $107.59 and a 12 month high of $264.11. The firm has a market cap of $7.64 billion, a PE ratio of 18.12, a P/E/G ratio of 2.09 and a beta of 1.77.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.85 by ($0.01). The business had revenue of $356.35 million during the quarter, compared to the consensus estimate of $355.48 million. IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 earnings per share. As a group, equities analysts expect that IPG Photonics Co. will post 7.41 earnings per share for the current fiscal year.
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About IPG Photonics
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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