Retirement Systems of Alabama Sells 2,124 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Retirement Systems of Alabama lowered its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 33,309 shares of the semiconductor company’s stock after selling 2,124 shares during the period. Retirement Systems of Alabama owned about 0.08% of IPG Photonics worth $2,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IPGP. KBC Group NV raised its position in IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of IPG Photonics in the second quarter worth approximately $85,000. Assetmark Inc. boosted its holdings in IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares during the last quarter. FMR LLC increased its position in IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares during the period. Finally, Covestor Ltd raised its holdings in IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Price Performance

Shares of IPGP opened at $73.84 on Friday. The company has a market cap of $3.19 billion, a PE ratio of -21.28 and a beta of 0.96. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The stock has a 50-day moving average of $77.65 and a 200-day moving average of $77.00.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Analysts expect that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IPGP shares. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $93.50.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.