Retirement Systems of Alabama Acquires 36,648 Shares of IPG Photonics Corporation (NASDAQ:IPGP)

Retirement Systems of Alabama boosted its holdings in shares of IPG Photonics Corporation (NASDAQ:IPGP - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,573 shares of the semiconductor company's stock after acquiring an additional 36,648 shares during the period. Retirement Systems of Alabama owned about 0.51% of IPG Photonics worth $13,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IPGP. Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in shares of IPG Photonics by 3.3% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 78,501 shares of the semiconductor company's stock valued at $4,957,000 after buying an additional 2,505 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of IPG Photonics by 19.6% during the first quarter. Exchange Traded Concepts LLC now owns 272,454 shares of the semiconductor company's stock worth $17,203,000 after purchasing an additional 44,712 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of IPG Photonics by 194.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,568 shares of the semiconductor company's stock valued at $794,000 after buying an additional 8,294 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in IPG Photonics during the first quarter valued at approximately $275,000. Finally, UMB Bank n.a. increased its holdings in shares of IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 329 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

IPG Photonics Price Performance

IPG Photonics stock opened at $66.01 on Monday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -14.32, a price-to-earnings-growth ratio of 10.64 and a beta of 0.90. The firm has a 50 day simple moving average of $62.85 and a 200-day simple moving average of $65.98. IPG Photonics Corporation has a 1-year low of $48.59 and a 1-year high of $92.21.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued 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. The company had revenue of $227.79 million during the quarter, compared to analysts' expectations of $227.00 million. IPG Photonics had a negative net margin of 21.18% and a positive return on equity of 2.56%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Equities analysts expect that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.00%.

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.

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