IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Texas Permanent School Fund

Posted by on May 12th, 2023

Texas Permanent School Fund decreased its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 9.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,615 shares of the semiconductor company’s stock after selling 2,219 shares during the period. Texas Permanent School Fund’s holdings in IPG Photonics were worth $2,046,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in shares of IPG Photonics in the fourth quarter valued at about $357,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of IPG Photonics by 17.7% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,286 shares of the semiconductor company’s stock valued at $414,000 after acquiring an additional 643 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of IPG Photonics in the fourth quarter worth $582,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of IPG Photonics during the fourth quarter worth $3,955,000. Finally, Emerald Advisers LLC acquired a new position in IPG Photonics during the fourth quarter valued at $6,000,000. Hedge funds and other institutional investors own 63.50% of the company’s stock.

IPG Photonics Price Performance

Shares of IPG Photonics stock opened at $110.68 on Friday. The business has a 50 day simple moving average of $117.07 and a two-hundred day simple moving average of $106.95. The stock has a market capitalization of $5.24 billion, a P/E ratio of 57.65, a PEG ratio of 2.64 and a beta of 1.22. IPG Photonics Co. has a 12 month low of $79.88 and a 12 month high of $134.81.

IPG Photonics (NASDAQ:IPGP – Get Rating) last released its earnings results on Tuesday, May 2nd. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.26. The business had revenue of $347.17 million during the quarter, compared to analyst estimates of $330.60 million. IPG Photonics had a net margin of 7.14% and a return on equity of 4.62%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 earnings per share. As a group, research analysts anticipate that IPG Photonics Co. will post 5.06 EPS for the current fiscal year.

IPG Photonics declared that its board has approved a stock repurchase program on Tuesday, May 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of analyst reports. Sanford C. Bernstein boosted their price target on IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a report on Thursday, February 16th. StockNews.com raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a research note on Thursday. Benchmark dropped their target price on IPG Photonics from $140.00 to $134.00 in a research report on Wednesday, May 3rd. Stifel Nicolaus upped their price target on IPG Photonics from $110.00 to $145.00 in a report on Wednesday, February 15th. Finally, Citigroup dropped their price objective on IPG Photonics from $160.00 to $152.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Insider Transactions at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of IPG Photonics stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $114.13, for a total transaction of $941,572.50. Following the transaction, the insider now owns 7,353,349 shares in the company, valued at $839,237,721.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 49,500 shares of company stock worth $5,823,923 in the last ninety days. Insiders own 33.50% of the company’s stock.

IPG Photonics Company Profile

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.

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

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