Louisiana State Employees Retirement System Has $565,000 Position in IPG Photonics Co. (NASDAQ:IPGP)

Louisiana State Employees Retirement System lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the semiconductor company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in IPG Photonics were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IPGP. Fiera Capital Corp boosted its holdings in IPG Photonics by 0.9% in the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after acquiring an additional 193 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of IPG Photonics by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 278 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of IPG Photonics by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 25,871 shares of the semiconductor company’s stock valued at $2,346,000 after purchasing an additional 334 shares in the last quarter. Inspire Investing LLC lifted its holdings in IPG Photonics by 11.2% during the first quarter. Inspire Investing LLC now owns 3,922 shares of the semiconductor company’s stock worth $356,000 after acquiring an additional 395 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in IPG Photonics by 19.4% during the first quarter. William Blair Investment Management LLC now owns 2,653 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 431 shares during the period. Institutional investors own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IPGP. Stifel Nicolaus reduced their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.50.

IPG Photonics Trading Up 1.3 %

IPGP opened at $81.63 on Wednesday. The stock has a 50-day moving average price of $72.59 and a 200-day moving average price of $79.13. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11. The stock has a market capitalization of $3.53 billion, a P/E ratio of -23.52 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the prior year, the business earned $1.16 EPS. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. On average, equities research analysts predict that IPG Photonics Co. will post 1.53 EPS for the current year.

IPG Photonics Profile

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.