New York State Teachers Retirement System Has $2.11 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

New York State Teachers Retirement System reduced its position in IPG Photonics Co. (NASDAQ:IPGP) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,942 shares of the semiconductor company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System’s holdings in IPG Photonics were worth $2,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IPGP. Versant Capital Management Inc lifted its stake in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 345 shares during the last quarter. KBC Group NV raised its holdings in shares of IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares in the last quarter. Assetmark Inc. lifted its stake in shares of IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares during the last quarter. FMR LLC boosted its holdings in IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 153 shares in the last quarter. Finally, Covestor Ltd increased its position in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after buying an additional 133 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IPGP. Stifel Nicolaus decreased their target price on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup cut their target price on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday, February 18th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.75.

IPG Photonics Stock Down 2.2 %

Shares of NASDAQ IPGP opened at $63.17 on Friday. IPG Photonics Co. has a 12-month low of $60.72 and a 12-month high of $92.21. The firm’s 50-day simple moving average is $71.76 and its 200 day simple moving average is $72.87. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -15.11 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. On average, equities analysts expect that IPG Photonics Co. will post 1.54 earnings per share for the current year.

About IPG Photonics

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.