California Public Employees Retirement System Sells 8,694 Shares of IPG Photonics Co. (NASDAQ:IPGP)

California Public Employees Retirement System cut its stake in IPG Photonics Co. (NASDAQ:IPGPGet Rating) by 11.2% in the second quarter, HoldingsChannel.com reports. The fund owned 68,920 shares of the semiconductor company’s stock after selling 8,694 shares during the period. California Public Employees Retirement System’s holdings in IPG Photonics were worth $6,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IPGP. Signaturefd LLC increased its stake in shares of IPG Photonics by 174.3% in the 1st quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 244 shares during the last quarter. Arizona State Retirement System grew its position in shares of IPG Photonics by 1.9% in the 1st quarter. Arizona State Retirement System now owns 10,387 shares of the semiconductor company’s stock valued at $1,140,000 after purchasing an additional 190 shares during the period. Victory Capital Management Inc. grew its position in shares of IPG Photonics by 0.4% in the 1st quarter. Victory Capital Management Inc. now owns 351,198 shares of the semiconductor company’s stock valued at $33,181,000 after purchasing an additional 1,242 shares during the period. Stephens Inc. AR grew its position in shares of IPG Photonics by 24.8% in the 1st quarter. Stephens Inc. AR now owns 20,801 shares of the semiconductor company’s stock valued at $2,283,000 after purchasing an additional 4,128 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of IPG Photonics by 59.8% in the 1st quarter. Russell Investments Group Ltd. now owns 14,055 shares of the semiconductor company’s stock valued at $1,542,000 after purchasing an additional 5,261 shares during the period. 65.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IPGP has been the subject of several research analyst reports. StockNews.com initiated coverage on IPG Photonics in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Benchmark decreased their price objective on IPG Photonics from $165.00 to $130.00 in a research report on Wednesday, November 2nd. Stifel Nicolaus started coverage on IPG Photonics in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 price objective for the company. DA Davidson reduced their price target on IPG Photonics from $150.00 to $120.00 in a research report on Wednesday, November 2nd. Finally, Raymond James raised IPG Photonics from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $134.20.

IPG Photonics Stock Up 1.7 %

NASDAQ:IPGP opened at $92.39 on Friday. IPG Photonics Co. has a twelve month low of $79.88 and a twelve month high of $176.63. The business has a 50 day moving average price of $87.79 and a two-hundred day moving average price of $93.78. The company has a market cap of $4.50 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 8.80 and a beta of 1.30.

Insiders Place Their Bets

In other news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $85.34, for a total value of $426,700.00. Following the completion of the sale, the insider now owns 7,394,599 shares of the company’s stock, valued at approximately $631,055,078.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 20,000 shares of company stock valued at $1,751,400 in the last quarter. 33.50% of the stock is currently owned by insiders.

IPG Photonics Profile

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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. The company's 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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Institutional Ownership by Quarter for IPG Photonics (NASDAQ:IPGP)

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