Arizona State Retirement System Buys 118 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Arizona State Retirement System grew its stake in IPG Photonics Co. (NASDAQ:IPGPFree Report) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 8,755 shares of the semiconductor company’s stock after buying an additional 118 shares during the quarter. Arizona State Retirement System’s holdings in IPG Photonics were worth $889,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of IPG Photonics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,849,934 shares of the semiconductor company’s stock valued at $422,568,000 after purchasing an additional 24,859 shares in the last quarter. BlackRock Inc. boosted its stake in shares of IPG Photonics by 1.5% in the 1st quarter. BlackRock Inc. now owns 2,559,937 shares of the semiconductor company’s stock valued at $280,980,000 after purchasing an additional 37,842 shares in the last quarter. Invesco Ltd. boosted its stake in shares of IPG Photonics by 18.9% in the 1st quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock valued at $186,788,000 after purchasing an additional 270,190 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 799,639 shares of the semiconductor company’s stock valued at $98,600,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in IPG Photonics by 1.3% in the 1st quarter. Lazard Asset Management LLC now owns 687,546 shares of the semiconductor company’s stock valued at $75,465,000 after buying an additional 8,539 shares during the last quarter. 59.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the sale, the director now owns 16,491 shares in the company, valued at approximately $1,649,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of IPG Photonics stock in a transaction on Friday, November 24th. The shares were sold at an average price of $95.34, for a total value of $786,555.00. Following the completion of the sale, the insider now owns 7,237,849 shares of the company’s stock, valued at approximately $690,056,523.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Meurice sold 629 shares of IPG Photonics stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total transaction of $62,900.00. Following the completion of the sale, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,649,100. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,129 shares of company stock worth $1,670,165. 33.50% of the stock is currently owned by insiders.

IPG Photonics Stock Performance

IPG Photonics stock opened at $99.78 on Wednesday. IPG Photonics Co. has a 52-week low of $83.00 and a 52-week high of $141.85. The firm has a 50 day moving average price of $102.00 and a two-hundred day moving average price of $101.01. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 54.82, a PEG ratio of 9.27 and a beta of 1.24.

Analyst Ratings Changes

A number of brokerages recently issued reports on IPGP. StockNews.com lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. Bank of America dropped their price objective on shares of IPG Photonics from $107.00 to $93.00 in a report on Wednesday, October 11th. Finally, Stifel Nicolaus raised their price objective on shares of IPG Photonics from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Get Our Latest Stock Analysis on IPG Photonics

IPG Photonics Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IPGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IPG Photonics Co. (NASDAQ:IPGPFree Report).

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

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