State of New Jersey Common Pension Fund D Has $2.85 Million Stock Position in IPG Photonics Co. (NASDAQ:IPGP)

State of New Jersey Common Pension Fund D increased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,226 shares of the semiconductor company’s stock after purchasing an additional 3,080 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of IPG Photonics worth $2,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC lifted its stake in IPG Photonics by 127.2% during the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Disciplined Equity Management Inc. bought a new stake in shares of IPG Photonics during the 4th quarter worth $43,000. AM Squared Ltd lifted its position in shares of IPG Photonics by 200.0% during the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after buying an additional 400 shares during the last quarter. Assetmark Inc. boosted its stake in IPG Photonics by 39.4% in the third quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 173 shares in the last quarter. Finally, CWM LLC grew its position in IPG Photonics by 123.8% in the third quarter. CWM LLC now owns 837 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 463 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Analysts Set New Price Targets

IPGP has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. StockNews.com lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Citigroup cut shares of IPG Photonics from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $111.00 to $74.00 in a research note on Thursday, February 15th. Finally, Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.20.

IPG Photonics Price Performance

IPGP opened at $88.58 on Tuesday. IPG Photonics Co. has a fifty-two week low of $83.00 and a fifty-two week high of $141.85. The company’s 50 day moving average price is $87.77 and its two-hundred day moving average price is $94.21. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 17.53 and a beta of 1.19.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.06). The business had revenue of $298.89 million during the quarter, compared to the consensus estimate of $287.03 million. IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.91) EPS. As a group, equities research analysts predict that IPG Photonics Co. will post 3.23 EPS for the current year.

IPG Photonics declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the transaction, the insider now directly owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 29,000 shares of company stock valued at $2,525,140. Company insiders own 33.50% of the company’s stock.

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.