IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,942 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of IPG Photonics worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IPGP. Versant Capital Management Inc increased its holdings in shares of IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 345 shares during the period. KBC Group NV grew its position in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares during the last quarter. Assetmark Inc. boosted its position in shares of IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares in the last quarter. FMR LLC boosted its position in shares of IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 153 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Stock Performance

IPGP stock opened at $63.17 on Friday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -15.11 and a beta of 0.95. IPG Photonics Co. has a 1 year low of $60.72 and a 1 year high of $92.21. The stock’s fifty day moving average is $71.76 and its two-hundred day moving average is $72.87.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, analysts predict that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IPGP shares. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup reduced their target price on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IPG Photonics presently has a consensus rating of “Hold” and a consensus price target of $87.75.

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.