Teacher Retirement System of Texas Invests $241,000 in IPG Photonics Corporation (NASDAQ:IPGP)

Teacher Retirement System of Texas purchased a new position in shares of IPG Photonics Corporation (NASDAQ:IPGP) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,820 shares of the semiconductor company’s stock, valued at approximately $241,000.

A number of other large investors have also made changes to their positions in the business. UMB Bank n.a. boosted its stake in shares of IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 329 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of IPG Photonics during the 4th quarter worth about $87,000. Sterling Capital Management LLC raised its position in shares of IPG Photonics by 52.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 572 shares during the last quarter. Versant Capital Management Inc raised its position in shares of IPG Photonics by 90.7% during the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 865 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of IPG Photonics during the 4th quarter worth about $134,000. 93.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IPGP. Raymond James Financial cut their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. Finally, Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.50.

IPG Photonics Trading Up 0.3%

IPGP opened at $74.63 on Friday. The company has a fifty day simple moving average of $68.80 and a 200 day simple moving average of $65.50. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -16.19, a PEG ratio of 12.02 and a beta of 0.90. IPG Photonics Corporation has a twelve month low of $48.59 and a twelve month high of $90.53.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. The business had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. During the same period in the previous year, the business posted $0.52 EPS. The company’s quarterly revenue was down 9.6% on a year-over-year basis. On average, analysts forecast that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.77%.

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.