Retirement Systems of Alabama Increases Stake in IPG Photonics Co. (NASDAQ:IPGP)

Retirement Systems of Alabama raised its position in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 437.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,925 shares of the semiconductor company's stock after acquiring an additional 145,616 shares during the period. Retirement Systems of Alabama owned approximately 0.41% of IPG Photonics worth $13,011,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Covestor Ltd grew its holdings in shares of IPG Photonics by 7.7% in the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company's stock worth $139,000 after purchasing an additional 133 shares during the last quarter. Beaumont Financial Advisors LLC lifted its position in shares of IPG Photonics by 4.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company's stock valued at $248,000 after buying an additional 139 shares during the last quarter. FMR LLC lifted its position in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock valued at $120,000 after buying an additional 153 shares during the last quarter. Calamos Wealth Management LLC lifted its position in shares of IPG Photonics by 4.0% during the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company's stock valued at $454,000 after buying an additional 237 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock valued at $99,000 after buying an additional 295 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several recent analyst reports. Northcoast Research downgraded shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Benchmark restated a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.50.

IPG Photonics Stock Down 5.5 %

Shares of NASDAQ IPGP traded down $3.68 during midday trading on Tuesday, reaching $63.72. 724,061 shares of the stock were exchanged, compared to its average volume of 226,410. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -18.36 and a beta of 0.95. IPG Photonics Co. has a twelve month low of $61.63 and a twelve month high of $104.19. The firm has a 50-day simple moving average of $73.98 and a two-hundred day simple moving average of $73.55.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. Research analysts expect that IPG Photonics Co. will post 1.47 EPS for the current fiscal 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.