Public Employees Retirement Association of Colorado Cuts Stake in IPG Photonics Co. (NASDAQ:IPGP)

Public Employees Retirement Association of Colorado lowered its position in IPG Photonics Co. (NASDAQ:IPGP) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,528 shares of the semiconductor company’s stock after selling 399 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in IPG Photonics were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of IPG Photonics during the first quarter valued at approximately $52,000. Mather Group LLC. purchased a new stake in shares of IPG Photonics during the first quarter valued at approximately $67,000. Innealta Capital LLC purchased a new stake in shares of IPG Photonics during the second quarter valued at approximately $85,000. TFO Wealth Partners LLC boosted its stake in shares of IPG Photonics by 38,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 1,140 shares during the period. Finally, Covestor Ltd boosted its stake in shares of IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Up 0.5 %

Shares of IPG Photonics stock opened at $74.89 on Friday. The company has a market cap of $3.41 billion, a PE ratio of 19.30 and a beta of 1.00. The business has a 50 day moving average of $71.20 and a 200 day moving average of $81.42. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $257.60 million during the quarter, compared to the consensus estimate of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. IPG Photonics’s revenue for the quarter was down 24.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. On average, research analysts anticipate that IPG Photonics Co. will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of analyst reports. Raymond James dropped their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.40.

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.