Retirement Systems of Alabama Lowers Position in IPG Photonics Co. (NASDAQ:IPGP)

Retirement Systems of Alabama trimmed its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,309 shares of the semiconductor company’s stock after selling 2,124 shares during the quarter. Retirement Systems of Alabama’s holdings in IPG Photonics were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in IPG Photonics by 37.2% during the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after purchasing an additional 181,844 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after buying an additional 125,958 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of IPG Photonics by 26.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after buying an additional 63,369 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of IPG Photonics by 5.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock valued at $72,168,000 after acquiring an additional 54,166 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of IPG Photonics by 25.8% during the second quarter. AQR Capital Management LLC now owns 254,578 shares of the semiconductor company’s stock valued at $21,484,000 after acquiring an additional 52,204 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $73.84 on Friday. The business’s fifty day moving average price is $77.65 and its 200-day moving average price is $77.00. IPG Photonics Co. has a one year low of $61.86 and a one year high of $111.11. The stock has a market capitalization of $3.19 billion, a PE ratio of -21.28 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s quarterly revenue was down 22.6% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. As a group, equities analysts expect that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on IPGP shares. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IPG Photonics has an average rating of “Hold” and a consensus target price of $93.50.

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.