State of Michigan Retirement System Sells 200 Shares of IPG Photonics Co. (NASDAQ:IPGP)

State of Michigan Retirement System lessened its position in shares of IPG Photonics Co. (NASDAQ:IPGP) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the semiconductor company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in IPG Photonics were worth $458,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Covestor Ltd increased its stake in IPG Photonics by 7.7% during the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 133 shares in the last quarter. Beaumont Financial Advisors LLC increased its stake in IPG Photonics by 4.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock valued at $248,000 after purchasing an additional 139 shares in the last quarter. FMR LLC increased its stake in IPG Photonics by 10.4% during the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares in the last quarter. Waterfront Wealth Inc. increased its stake in IPG Photonics by 1.6% during the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock valued at $895,000 after purchasing an additional 190 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in IPG Photonics by 4.0% during the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

IPGP has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IPG Photonics has an average rating of “Hold” and an average target price of $87.75.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $63.04 on Monday. The company’s fifty day moving average price is $68.81 and its 200-day moving average price is $72.42. IPG Photonics Co. has a 1-year low of $56.71 and a 1-year high of $92.21. The firm has a market capitalization of $2.68 billion, a P/E ratio of -15.08 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) 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%. Equities analysts anticipate that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

IPG Photonics Company 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.