Teachers Retirement System of The State of Kentucky decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 36.1% during the 4th quarter, Holdings Channel reports. The firm owned 78,460 shares of the semiconductor company’s stock after selling 44,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IPG Photonics were worth $16,800,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Aperio Group LLC grew its stake in IPG Photonics by 3.9% in the 3rd quarter. Aperio Group LLC now owns 7,740 shares of the semiconductor company’s stock valued at $1,432,000 after buying an additional 289 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in IPG Photonics in the 3rd quarter valued at $287,000. Swiss National Bank grew its stake in IPG Photonics by 0.8% in the 3rd quarter. Swiss National Bank now owns 62,899 shares of the semiconductor company’s stock valued at $11,640,000 after buying an additional 500 shares during the last quarter. Alps Advisors Inc. grew its stake in IPG Photonics by 14.4% in the 3rd quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after buying an additional 582 shares during the last quarter. Finally, Sei Investments Co. grew its stake in IPG Photonics by 16.2% in the 3rd quarter. Sei Investments Co. now owns 7,954 shares of the semiconductor company’s stock valued at $1,472,000 after buying an additional 1,106 shares during the last quarter. Institutional investors own 57.14% of the company’s stock.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of IPG Photonics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. DA Davidson raised their target price on shares of IPG Photonics from $1.86 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Canaccord Genuity raised their target price on shares of IPG Photonics from $210.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Zacks Investment Research upgraded shares of IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $275.00 target price on the stock in a research note on Thursday, February 22nd. Finally, Benchmark reissued a “buy” rating and issued a $255.00 price target (up from $230.00) on shares of IPG Photonics in a report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $213.60.
Shares of IPG Photonics Co. (IPGP) opened at $255.55 on Wednesday. The company has a quick ratio of 7.27, a current ratio of 8.82 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a 1-year low of $116.80 and a 1-year high of $264.11. The firm has a market cap of $13,769.17, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.54 and a beta of 1.84.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.14. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The firm had revenue of $361.10 million during the quarter, compared to the consensus estimate of $345.63 million. During the same period in the prior year, the firm earned $1.39 EPS. The business’s revenue was up 28.9% on a year-over-year basis. equities research analysts predict that IPG Photonics Co. will post 8.37 earnings per share for the current year.
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IPG Photonics Company Profile
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.
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