Retirement Systems of Alabama Has $13.01 Million Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Retirement Systems of Alabama boosted its stake in IPG Photonics Co. (NASDAQ:IPGP) by 437.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,925 shares of the semiconductor company’s stock after buying an additional 145,616 shares during the quarter. Retirement Systems of Alabama owned approximately 0.41% of IPG Photonics worth $13,011,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Calamos Wealth Management LLC boosted its stake in shares of IPG Photonics by 4.0% in the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 237 shares in the last quarter. KBC Group NV boosted its position in IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock valued at $117,000 after buying an additional 527 shares in the last quarter. Beaumont Financial Advisors LLC grew its stake in IPG Photonics by 4.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock worth $248,000 after buying an additional 139 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after buying an additional 345 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of IPG Photonics by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company’s stock valued at $11,233,000 after acquiring an additional 28,003 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on IPGP. Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Stock Down 2.7 %

IPG Photonics stock opened at $68.91 on Friday. The business’s 50-day simple moving average is $74.69 and its 200 day simple moving average is $74.19. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -19.86 and a beta of 0.95. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $104.19.

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.