IPG Photonics Corporation (NASDAQ:IPGP) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 20.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 215,573 shares of the semiconductor company's stock after purchasing an additional 36,648 shares during the period. Retirement Systems of Alabama owned 0.51% of IPG Photonics worth $13,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in IPG Photonics by 0.8% during the fourth quarter. Rhumbline Advisers now owns 75,503 shares of the semiconductor company's stock worth $5,491,000 after buying an additional 580 shares during the period. Venturi Wealth Management LLC grew its position in shares of IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after acquiring an additional 818 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of IPG Photonics by 16.3% in the 4th quarter. Handelsbanken Fonder AB now owns 10,000 shares of the semiconductor company's stock valued at $727,000 after acquiring an additional 1,400 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of IPG Photonics in the 4th quarter valued at $244,000. Finally, Fisher Asset Management LLC raised its position in IPG Photonics by 30.1% in the 4th quarter. Fisher Asset Management LLC now owns 249,830 shares of the semiconductor company's stock valued at $18,168,000 after purchasing an additional 57,780 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IPGP shares. Wall Street Zen raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a research note on Tuesday, March 18th. Raymond James Financial decreased their price objective on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Stock Performance

IPGP traded up $1.05 during trading on Thursday, reaching $68.84. The company's stock had a trading volume of 156,568 shares, compared to its average volume of 292,166. The company's fifty day moving average price is $64.04 and its 200-day moving average price is $65.86. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $92.21. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -14.93, a price-to-earnings-growth ratio of 10.92 and a beta of 0.90.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. The business had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. During the same period last year, the firm earned $0.52 EPS. The company's quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that IPG Photonics Corporation will post 1.54 earnings per share for the current year.

IPG Photonics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.92%.

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.