State Board of Administration of Florida Retirement System Reduces Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

State Board of Administration of Florida Retirement System reduced its holdings in IPG Photonics Co. (NASDAQ:IPGP) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 41,511 shares of the semiconductor company’s stock after selling 2,705 shares during the period. State Board of Administration of Florida Retirement System’s holdings in IPG Photonics were worth $6,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in IPGP. Principal Financial Group Inc. boosted its holdings in IPG Photonics by 2.4% during the second quarter. Principal Financial Group Inc. now owns 46,978 shares of the semiconductor company’s stock worth $9,902,000 after buying an additional 1,089 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in IPG Photonics by 5.8% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 36,677 shares of the semiconductor company’s stock worth $5,810,000 after buying an additional 2,003 shares in the last quarter. Seven Eight Capital LP purchased a new stake in IPG Photonics during the second quarter worth $251,000. Paloma Partners Management Co acquired a new position in IPG Photonics during the second quarter worth $358,000. Finally, Cambiar Investors LLC raised its position in IPG Photonics by 4.8% during the third quarter. Cambiar Investors LLC now owns 50,651 shares of the semiconductor company’s stock worth $8,023,000 after acquiring an additional 2,309 shares during the period. 64.75% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Igor Samartsev sold 500 shares of the firm’s stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $172.35, for a total transaction of $86,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.90% of the stock is currently owned by company insiders.

A number of research firms have weighed in on IPGP. Zacks Investment Research cut shares of IPG Photonics from a “hold” rating to a “strong sell” rating and set a $138.00 price objective for the company. in a research report on Monday, October 25th. DA Davidson upped their price objective on shares of IPG Photonics from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, November 3rd. Sanford C. Bernstein cut shares of IPG Photonics from an “outperform” rating to a “market perform” rating and set a $160.00 price objective for the company. in a research report on Thursday, November 11th. Stifel Nicolaus began coverage on shares of IPG Photonics in a research report on Monday, October 4th. They set a “hold” rating and a $170.00 price objective for the company. Finally, Bank of America cut shares of IPG Photonics from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $178.00 to $173.00 in a research report on Thursday, November 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.33.

Shares of NASDAQ IPGP opened at $161.25 on Friday. The firm has a 50-day simple moving average of $167.30 and a 200-day simple moving average of $174.59. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 33.11 and a beta of 1.35. The company has a quick ratio of 6.45, a current ratio of 7.94 and a debt-to-equity ratio of 0.01. IPG Photonics Co. has a 52 week low of $151.27 and a 52 week high of $262.55.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, November 2nd. The semiconductor company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.11. IPG Photonics had a net margin of 18.33% and a return on equity of 10.21%. The business had revenue of $379.15 million during the quarter, compared to analysts’ expectations of $368.85 million. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, equities research analysts expect that IPG Photonics Co. will post 5.05 EPS for the current year.

IPG Photonics Profile

IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.

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

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