State Board of Administration of Florida Retirement System decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,523 shares of the semiconductor company’s stock after selling 1,623 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of IPG Photonics worth $6,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Psagot Investment House Ltd. bought a new position in IPG Photonics during the 2nd quarter valued at approximately $124,000. NumerixS Investment Technologies Inc bought a new position in IPG Photonics during the 2nd quarter valued at approximately $128,000. Signet Financial Management LLC raised its position in IPG Photonics by 556.7% during the 2nd quarter. Signet Financial Management LLC now owns 683 shares of the semiconductor company’s stock valued at $151,000 after purchasing an additional 579 shares during the last quarter. Pendal Group Ltd bought a new position in IPG Photonics during the 2nd quarter valued at approximately $162,000. Finally, Centaurus Financial Inc. bought a new position in IPG Photonics during the 2nd quarter valued at approximately $177,000. 57.83% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:IPGP opened at $134.95 on Thursday. IPG Photonics Co. has a 52-week low of $107.59 and a 52-week high of $264.11. The company has a market capitalization of $6.89 billion, a PE ratio of 18.59, a PEG ratio of 1.89 and a beta of 1.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.64 and a quick ratio of 6.81.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.01). IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The firm had revenue of $356.35 million during the quarter, compared to the consensus estimate of $355.48 million. During the same period in the prior year, the company posted $2.11 EPS. The firm’s revenue was down 9.2% on a year-over-year basis. Equities research analysts forecast that IPG Photonics Co. will post 7.41 EPS for the current year.

A number of research analysts have commented on IPGP shares. BidaskClub raised IPG Photonics from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Needham & Company LLC lowered their price target on IPG Photonics from $280.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Stifel Nicolaus lowered their price target on IPG Photonics from $282.00 to $228.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Finally, DA Davidson lowered their price target on IPG Photonics to $220.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics currently has a consensus rating of “Hold” and an average target price of $219.75.

In related news, CAO Thomas J. Burgomaster sold 637 shares of the company’s stock in a transaction that occurred on Sunday, November 11th. The stock was sold at an average price of $90.85, for a total value of $57,871.45. Following the sale, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $548,461.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Thomas J. Burgomaster sold 294 shares of the company’s stock in a transaction that occurred on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total value of $27,547.80. Following the completion of the sale, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $565,666.90. The disclosure for this sale can be found here. Insiders sold a total of 1,131 shares of company stock valued at $103,915 in the last three months. Corporate insiders own 33.40% of the company’s stock.

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IPG Photonics Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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