Strs Ohio Has $1.37 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

Strs Ohio lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 25.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,668 shares of the semiconductor company’s stock after selling 4,403 shares during the period. Strs Ohio’s holdings in IPG Photonics were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in IPGP. Vontobel Holding Ltd. acquired a new stake in shares of IPG Photonics in the 4th quarter worth about $719,000. Louisiana State Employees Retirement System bought a new position in shares of IPG Photonics during the 4th quarter valued at approximately $901,000. Janiczek Wealth Management LLC boosted its holdings in IPG Photonics by 23.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock worth $101,000 after buying an additional 179 shares during the period. Cambiar Investors LLC boosted its holdings in IPG Photonics by 2.8% in the 4th quarter. Cambiar Investors LLC now owns 101,662 shares of the semiconductor company’s stock worth $11,034,000 after buying an additional 2,804 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in IPG Photonics by 6.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,216 shares of the semiconductor company’s stock worth $2,737,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Stock Up 1.0 %

IPGP stock opened at $85.10 on Tuesday. The firm has a market cap of $3.92 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 16.72 and a beta of 1.19. The business has a 50 day moving average of $87.73 and a 200 day moving average of $94.48. IPG Photonics Co. has a twelve month low of $83.00 and a twelve month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $298.89 million during the quarter, compared to the consensus estimate of $287.03 million. IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.91) EPS. On average, research analysts expect that IPG Photonics Co. will post 3.23 earnings per share for the current fiscal year.

IPG Photonics announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the transaction, the insider now directly owns 7,209,599 shares in the company, valued at approximately $645,691,686.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.56, for a total transaction of $895,600.00. Following the transaction, the insider now directly owns 7,209,599 shares in the company, valued at $645,691,686.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Meurice sold 629 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at $1,649,100. The disclosure for this sale can be found here. Insiders have sold a total of 20,629 shares of company stock worth $1,815,300 in the last ninety days. Insiders own 33.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Stifel Nicolaus cut their price target on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Seaport Res Ptn reaffirmed a “buy” rating on shares of IPG Photonics in a research note on Thursday, January 25th. Finally, Citigroup lowered shares of IPG Photonics from a “neutral” rating to a “sell” rating and cut their target price for the company from $111.00 to $74.00 in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.20.

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.