Public Employees Retirement System of Ohio decreased its position in IPG Photonics Co. (NASDAQ:IPGP) by 2.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,638 shares of the semiconductor company’s stock after selling 1,039 shares during the period. Public Employees Retirement System of Ohio’s holdings in IPG Photonics were worth $6,839,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of IPGP. Alliancebernstein L.P. grew its holdings in IPG Photonics by 33.8% in the first quarter. Alliancebernstein L.P. now owns 2,076,316 shares of the semiconductor company’s stock valued at $228,976,000 after purchasing an additional 524,081 shares during the last quarter. FMR LLC lifted its position in shares of IPG Photonics by 11,235.1% in the second quarter. FMR LLC now owns 463,606 shares of the semiconductor company’s stock valued at $74,357,000 after acquiring an additional 459,516 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of IPG Photonics by 2,862.6% in the second quarter. Victory Capital Management Inc. now owns 350,001 shares of the semiconductor company’s stock valued at $56,137,000 after acquiring an additional 338,187 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in shares of IPG Photonics in the second quarter valued at $45,758,000. Finally, Invesco Ltd. lifted its position in shares of IPG Photonics by 22.0% in the first quarter. Invesco Ltd. now owns 1,481,641 shares of the semiconductor company’s stock valued at $163,395,000 after acquiring an additional 266,781 shares in the last quarter. 63.47% of the stock is currently owned by institutional investors.
IPG Photonics stock opened at $167.05 on Wednesday. The stock’s 50-day moving average is $162.82 and its 200-day moving average is $146.25. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 69.84 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.99 and a quick ratio of 8.11. IPG Photonics Co. has a 12 month low of $98.04 and a 12 month high of $184.02.
In other news, CAO Thomas J. Burgomaster sold 2,331 shares of the stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $170.09, for a total value of $396,479.79. Following the completion of the sale, the chief accounting officer now owns 8,446 shares in the company, valued at $1,436,580.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas J. Burgomaster sold 8,150 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $159.74, for a total value of $1,301,881.00. Following the completion of the sale, the chief accounting officer now owns 9,950 shares of the company’s stock, valued at approximately $1,589,413. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,420 shares of company stock valued at $5,934,124. Insiders own 34.00% of the company’s stock.
Several analysts have recently issued reports on IPGP shares. Raymond James upped their price objective on IPG Photonics from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Canaccord Genuity increased their target price on IPG Photonics from $149.00 to $174.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. BidaskClub upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Zacks Investment Research downgraded IPG Photonics from a “buy” rating to a “hold” rating and set a $174.00 target price on the stock. in a research report on Tuesday, July 7th. Finally, DA Davidson reiterated a “buy” rating on shares of IPG Photonics in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. IPG Photonics currently has a consensus rating of “Hold” and a consensus target price of $171.88.
About IPG Photonics
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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