Retirement Systems of Alabama Has $2.56 Million Stake in IPG Photonics Co. (NASDAQ:IPGP)

Retirement Systems of Alabama trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 69.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,604 shares of the semiconductor company’s stock after selling 37,314 shares during the quarter. Retirement Systems of Alabama’s holdings in IPG Photonics were worth $2,561,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. FMR LLC grew its stake in IPG Photonics by 342.7% in the 1st quarter. FMR LLC now owns 235,257 shares of the semiconductor company’s stock valued at $35,708,000 after purchasing an additional 182,112 shares during the period. Horizon Investments LLC grew its stake in IPG Photonics by 66.5% in the 1st quarter. Horizon Investments LLC now owns 3,076 shares of the semiconductor company’s stock valued at $467,000 after purchasing an additional 1,228 shares during the period. Clearbridge Investments LLC grew its stake in IPG Photonics by 5.8% in the 1st quarter. Clearbridge Investments LLC now owns 480,763 shares of the semiconductor company’s stock valued at $72,970,000 after purchasing an additional 26,158 shares during the period. SRB Corp grew its stake in IPG Photonics by 10.0% in the 1st quarter. SRB Corp now owns 4,547 shares of the semiconductor company’s stock valued at $690,000 after purchasing an additional 412 shares during the period. Finally, Jackson Square Partners LLC grew its stake in IPG Photonics by 12.6% in the 1st quarter. Jackson Square Partners LLC now owns 518,014 shares of the semiconductor company’s stock valued at $78,624,000 after purchasing an additional 57,957 shares during the period. 64.22% of the stock is currently owned by institutional investors.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 621 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $145.75, for a total value of $90,510.75. Following the completion of the transaction, the chief accounting officer now owns 7,577 shares in the company, valued at approximately $1,104,347.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $150.53, for a total value of $1,505,300.00. Following the completion of the transaction, the insider now owns 7,545,999 shares of the company’s stock, valued at approximately $1,135,899,229.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,274 shares of company stock valued at $4,335,153. 33.90% of the stock is owned by corporate insiders.

NASDAQ IPGP traded down $2.35 during trading hours on Wednesday, hitting $134.87. The company had a trading volume of 14,663 shares, compared to its average volume of 522,874. IPG Photonics Co. has a 52 week low of $104.64 and a 52 week high of $182.17. The company’s 50 day moving average is $141.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.54 and a quick ratio of 6.55. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 3.49 and a beta of 2.14.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The company had revenue of $363.80 million during the quarter, compared to the consensus estimate of $352.31 million. During the same quarter in the prior year, the business earned $2.21 EPS. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year. Sell-side analysts forecast that IPG Photonics Co. will post 5.49 earnings per share for the current year.

A number of research analysts have issued reports on the company. BidaskClub downgraded Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. DA Davidson increased their price target on Apple to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. Zacks Investment Research downgraded Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Needham & Company LLC increased their price target on Okta to $154.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $180.40.

IPG Photonics Profile

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.

See Also: Outstanding Shares and The Effect on Share Price

Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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