IPG Photonics Co. (NASDAQ:IPGP) Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in IPG Photonics Co. (NASDAQ:IPGP) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,942 shares of the semiconductor company’s stock after selling 4,400 shares during the quarter. New York State Common Retirement Fund’s holdings in IPG Photonics were worth $868,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in shares of IPG Photonics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock worth $1,618,000 after buying an additional 10,906 shares during the period. Barclays PLC boosted its holdings in IPG Photonics by 42.5% during the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock valued at $2,883,000 after acquiring an additional 11,562 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in IPG Photonics by 8.9% during the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after acquiring an additional 43,874 shares during the period. JPMorgan Chase & Co. grew its position in shares of IPG Photonics by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company’s stock valued at $11,233,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of IPG Photonics by 57.7% in the third quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company’s stock worth $1,728,000 after purchasing an additional 8,507 shares during the period. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on IPGP shares. Citigroup cut their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Finally, Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $87.75.

IPG Photonics Price Performance

IPGP opened at $58.27 on Tuesday. The company has a market capitalization of $2.48 billion, a P/E ratio of -13.94 and a beta of 0.95. The firm’s fifty day moving average price is $70.20 and its two-hundred day moving average price is $72.68. IPG Photonics Co. has a fifty-two week low of $56.71 and a fifty-two week high of $92.21.

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

IPG Photonics Company 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.