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

Retirement Systems of Alabama increased its stake in IPG Photonics Co. (NASDAQ:IPGP) by 437.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,925 shares of the semiconductor company’s stock after purchasing an additional 145,616 shares during the period. Retirement Systems of Alabama’s holdings in IPG Photonics were worth $13,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the period. Beaumont Financial Advisors LLC lifted its position in shares of IPG Photonics by 4.2% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock valued at $248,000 after buying an additional 139 shares during the last quarter. FMR LLC lifted its position in shares of IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 153 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in shares of IPG Photonics by 4.0% during the 4th quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company’s stock worth $454,000 after acquiring an additional 237 shares during the period. Finally, Assetmark Inc. raised its stake in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares during the period. Institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

IPGP has been the subject of a number of research analyst reports. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Stock Down 2.7 %

Shares of IPG Photonics stock opened at $68.91 on Friday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -19.86 and a beta of 0.95. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $104.19. The company has a 50-day simple moving average of $74.69 and a two-hundred day simple moving average of $74.19.

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.