Teacher Retirement System of Texas grew its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,345 shares of the semiconductor company’s stock after buying an additional 4,233 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of IPG Photonics worth $7,357,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Rhumbline Advisers grew its stake in IPG Photonics by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 65,959 shares of the semiconductor company’s stock valued at $14,553,000 after buying an additional 1,477 shares in the last quarter. Signition LP purchased a new position in IPG Photonics in the 2nd quarter valued at approximately $1,787,000. Navellier & Associates Inc grew its stake in IPG Photonics by 4.8% in the 2nd quarter. Navellier & Associates Inc now owns 31,524 shares of the semiconductor company’s stock valued at $6,955,000 after buying an additional 1,436 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in IPG Photonics by 12.5% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 11,930 shares of the semiconductor company’s stock valued at $2,632,000 after buying an additional 1,325 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in IPG Photonics by 7.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,449 shares of the semiconductor company’s stock valued at $2,305,000 after buying an additional 746 shares in the last quarter. 56.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on IPGP shares. Zacks Investment Research lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. BidaskClub lowered shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 26th. Canaccord Genuity reiterated a “hold” rating and issued a $235.00 price objective on shares of IPG Photonics in a research note on Tuesday, May 1st. ValuEngine upgraded shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Stifel Nicolaus started coverage on shares of IPG Photonics in a research note on Thursday, May 10th. They issued a “buy” rating and a $282.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $242.00.
IPGP opened at $162.27 on Tuesday. The firm has a market cap of $8.71 billion, a PE ratio of 22.35, a PEG ratio of 1.68 and a beta of 1.83. The company has a quick ratio of 6.94, a current ratio of 8.73 and a debt-to-equity ratio of 0.02. IPG Photonics Co. has a one year low of $158.75 and a one year high of $264.11.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.01). The firm had revenue of $413.61 million for the quarter, compared to analysts’ expectations of $418.61 million. IPG Photonics had a net margin of 25.96% and a return on equity of 21.55%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. sell-side analysts forecast that IPG Photonics Co. will post 8.02 EPS for the current fiscal year.
IPG Photonics Company 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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