New York State Common Retirement Fund Decreases Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

New York State Common Retirement Fund reduced its stake in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 26.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,942 shares of the semiconductor company's stock after selling 4,400 shares during the period. New York State Common Retirement Fund's holdings in IPG Photonics were worth $868,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company's stock valued at $69,000 after purchasing an additional 345 shares during the period. Venturi Wealth Management LLC lifted its position in shares of IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock valued at $76,000 after buying an additional 818 shares during the last quarter. KBC Group NV grew its stake 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 worth $81,000 after acquiring an additional 365 shares during the period. Assetmark Inc. increased its holdings in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock worth $99,000 after acquiring an additional 295 shares during the last quarter. Finally, FMR LLC raised its stake in IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock valued at $120,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 93.79% of the company's stock.

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IPG Photonics Trading Up 1.3 %

Shares of IPGP traded up $0.83 during mid-day trading on Friday, reaching $63.41. 469,107 shares of the stock traded hands, compared to its average volume of 302,964. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -15.10 and a beta of 0.95. IPG Photonics Co. has a 1 year low of $56.71 and a 1 year high of $92.21. The firm has a fifty day moving average price of $69.02 and a 200 day moving average price of $72.43.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on IPGP shares. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Northcoast Research downgraded shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Citigroup reduced their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus dropped their target price on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics currently has an average rating of "Hold" and a consensus price target of $87.75.

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.