Texas Permanent School Fund Decreases Position in IPG Photonics Co. (IPGP)

Texas Permanent School Fund trimmed its position in IPG Photonics Co. (NASDAQ:IPGP) by 11.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,086 shares of the semiconductor company’s stock after selling 1,088 shares during the period. Texas Permanent School Fund’s holdings in IPG Photonics were worth $1,262,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Concorde Asset Management LLC boosted its stake in IPG Photonics by 10.1% in the second quarter. Concorde Asset Management LLC now owns 3,059 shares of the semiconductor company’s stock valued at $675,000 after acquiring an additional 280 shares during the period. Westpac Banking Corp boosted its stake in IPG Photonics by 13.7% in the second quarter. Westpac Banking Corp now owns 2,445 shares of the semiconductor company’s stock valued at $539,000 after acquiring an additional 295 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in IPG Photonics by 5.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,524 shares of the semiconductor company’s stock valued at $1,219,000 after acquiring an additional 304 shares during the period. Piedmont Investment Advisors LLC boosted its stake in IPG Photonics by 6.3% in the second quarter. Piedmont Investment Advisors LLC now owns 5,381 shares of the semiconductor company’s stock valued at $1,187,000 after acquiring an additional 317 shares during the period. Finally, Granahan Investment Management Inc. MA boosted its stake in IPG Photonics by 3.2% in the second quarter. Granahan Investment Management Inc. MA now owns 12,922 shares of the semiconductor company’s stock valued at $2,851,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 58.04% of the company’s stock.

IPGP has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on IPG Photonics from $282.00 to $228.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. DA Davidson reduced their price objective on IPG Photonics to $180.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Needham & Company LLC reduced their price objective on IPG Photonics from $280.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. BidaskClub upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. Finally, Benchmark reduced their price objective on IPG Photonics from $170.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $219.75.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 294 shares of the company’s stock in a transaction on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total value of $27,547.80. Following the transaction, the chief accounting officer now owns 6,037 shares of the company’s stock, valued at $565,666.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas J. Burgomaster sold 637 shares of the company’s stock in a transaction on Sunday, November 11th. The shares were sold at an average price of $90.85, for a total value of $57,871.45. Following the completion of the transaction, the chief accounting officer now directly owns 6,037 shares in the company, valued at approximately $548,461.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,131 shares of company stock worth $103,915. 33.80% of the stock is owned by corporate insiders.

Shares of NASDAQ:IPGP opened at $137.79 on Friday. IPG Photonics Co. has a 12 month low of $107.59 and a 12 month high of $264.11. The company has a market cap of $7.64 billion, a P/E ratio of 18.12, a PEG ratio of 2.09 and a beta of 1.77. The company has a current ratio of 8.64, a quick ratio of 6.81 and a debt-to-equity ratio of 0.02.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.01). IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The firm had revenue of $356.35 million for the quarter, compared to the consensus estimate of $355.48 million. During the same period in the previous year, the firm earned $2.11 EPS. IPG Photonics’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, analysts anticipate that IPG Photonics Co. will post 7.41 earnings per share for the current fiscal year.

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About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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