Ontario Teachers Pension Plan Board Lowers Stake in IPG Photonics Co. (NASDAQ:IPGP)

Ontario Teachers Pension Plan Board lessened its position in IPG Photonics Co. (NASDAQ:IPGP) by 50.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,322 shares of the semiconductor company’s stock after selling 6,323 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in IPG Photonics were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE lifted its position in IPG Photonics by 87.8% in the 1st quarter. US Bancorp DE now owns 3,676 shares of the semiconductor company’s stock worth $333,000 after buying an additional 1,719 shares during the last quarter. Vanguard Group Inc. boosted its position in IPG Photonics by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock valued at $277,207,000 after buying an additional 11,830 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of IPG Photonics by 25.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 21,624 shares of the semiconductor company’s stock valued at $1,959,000 after buying an additional 4,412 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of IPG Photonics in the first quarter worth about $1,201,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of IPG Photonics by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,865 shares of the semiconductor company’s stock valued at $1,711,000 after acquiring an additional 939 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 1.8 %

Shares of IPGP opened at $74.81 on Friday. IPG Photonics Co. has a 1-year low of $61.86 and a 1-year high of $111.11. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -21.56 and a beta of 0.98. The firm’s 50-day moving average price is $75.33 and its 200-day moving average price is $78.54.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. On average, research analysts forecast that IPG Photonics Co. will post 1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IPGP shares. Raymond James cut their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.50.

IPG Photonics 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.