California Public Employees Retirement System Acquires 9,700 Shares of IPG Photonics Corporation (NASDAQ:IPGP)

California Public Employees Retirement System grew its holdings in IPG Photonics Corporation (NASDAQ:IPGP) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,400 shares of the semiconductor company’s stock after purchasing an additional 9,700 shares during the period. California Public Employees Retirement System owned approximately 0.13% of IPG Photonics Corporation worth $10,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Denali Advisors LLC acquired a new position in shares of IPG Photonics Corporation in the 2nd quarter valued at $145,000. Chicago Partners Investment Group LLC acquired a new position in shares of IPG Photonics Corporation in the 2nd quarter valued at $152,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IPG Photonics Corporation by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 131 shares during the period. Visionary Asset Management Inc. purchased a new stake in shares of IPG Photonics Corporation in the 2nd quarter valued at $209,000. Finally, Cigna Investments Inc. New purchased a new stake in shares of IPG Photonics Corporation in the 2nd quarter valued at $213,000. 59.08% of the stock is currently owned by institutional investors and hedge funds.

IPGP has been the topic of several research analyst reports. DA Davidson reiterated a “buy” rating and issued a $220.00 price objective on shares of IPG Photonics Corporation in a report on Tuesday, October 10th. ValuEngine downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target (up previously from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Canaccord Genuity downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, July 18th. Finally, Benchmark Co. restated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $158.75.

In other news, Director William S. Hurley sold 8,167 shares of IPG Photonics Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now directly owns 12,672 shares of the company’s stock, valued at $2,096,202.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Timothy Pv Mammen sold 10,000 shares of IPG Photonics Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at $6,693,957. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,517 shares of company stock worth $8,759,381. Insiders own 33.80% of the company’s stock.

Shares of IPG Photonics Corporation (IPGP) opened at 198.69 on Tuesday. The firm has a market capitalization of $10.69 billion, a PE ratio of 33.27 and a beta of 1.68. The company has a 50 day moving average price of $182.69 and a 200-day moving average price of $152.80. IPG Photonics Corporation has a 12 month low of $81.90 and a 12 month high of $199.73.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The firm had revenue of $369.37 million for the quarter, compared to analysts’ expectations of $333.06 million. During the same period last year, the firm earned $1.25 earnings per share. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Equities research analysts expect that IPG Photonics Corporation will post $6.64 EPS for the current fiscal year.

WARNING: “California Public Employees Retirement System Acquires 9,700 Shares of IPG Photonics Corporation (NASDAQ:IPGP)” was first published by BBNS and is owned by of BBNS. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://baseballnewssource.com/markets/california-public-employees-retirement-system-purchases-9700-shares-of-ipg-photonics-corporation-ipgp/1698695.html.

About IPG Photonics Corporation

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.

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

Receive News & Ratings for IPG Photonics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.