Ontario Teachers Pension Plan Board Has $470,000 Stock Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Ontario Teachers Pension Plan Board lowered its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,322 shares of the semiconductor company’s stock after selling 6,323 shares during the period. Ontario Teachers Pension Plan Board’s holdings in IPG Photonics were worth $470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in IPG Photonics by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after buying an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after acquiring an additional 125,958 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in IPG Photonics by 5.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in IPG Photonics by 1.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock valued at $77,375,000 after purchasing an additional 11,548 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of IPG Photonics by 2.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after buying an additional 10,775 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $74.81 on Friday. The company has a market capitalization of $3.24 billion, a P/E ratio of -21.56 and a beta of 0.98. IPG Photonics Co. has a 52-week low of $61.86 and a 52-week high of $111.11. The company’s 50 day moving average price is $75.33 and its 200-day moving average price is $78.54.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. IPG Photonics’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. Analysts forecast that IPG Photonics Co. will post 1.53 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on IPGP. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Raymond James cut their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Finally, Stifel Nicolaus cut their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and a consensus target price of $93.50.

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.