Shares of IPG Photonics Co. (NASDAQ:IPGP) have received an average rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $185.75.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Bank of America raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a report on Monday, April 22nd. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. DA Davidson increased their price target on shares of IPG Photonics to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Cascend Securities restated a “buy” rating and set a $200.00 target price (up from $180.00) on shares of IPG Photonics in a research report on Wednesday, May 1st.
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.59, for a total transaction of $1,625,900.00. Following the transaction, the insider now directly owns 7,555,999 shares in the company, valued at $1,228,529,877.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Igor Samartsev sold 800 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $172.10, for a total transaction of $137,680.00. The disclosure for this sale can be found here. Insiders have sold 15,825 shares of company stock worth $2,618,936 over the last 90 days. 33.90% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in IPGP. Man Group plc boosted its position in IPG Photonics by 232.1% during the third quarter. Man Group plc now owns 4,500 shares of the semiconductor company’s stock worth $702,000 after acquiring an additional 3,145 shares during the last quarter. Neuberger Berman Group LLC boosted its position in IPG Photonics by 71.1% during the third quarter. Neuberger Berman Group LLC now owns 574,534 shares of the semiconductor company’s stock worth $89,668,000 after acquiring an additional 238,755 shares during the last quarter. Nordea Investment Management AB boosted its position in IPG Photonics by 4,272.2% during the third quarter. Nordea Investment Management AB now owns 75,421 shares of the semiconductor company’s stock worth $11,770,000 after acquiring an additional 73,696 shares during the last quarter. Legal & General Group Plc boosted its position in IPG Photonics by 21.1% during the third quarter. Legal & General Group Plc now owns 295,107 shares of the semiconductor company’s stock worth $46,057,000 after acquiring an additional 51,502 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in IPG Photonics during the third quarter worth approximately $620,000. Institutional investors and hedge funds own 67.02% of the company’s stock.
NASDAQ IPGP traded down $3.97 during trading hours on Friday, hitting $130.08. 814,421 shares of the stock were exchanged, compared to its average volume of 486,018. The stock has a market capitalization of $6.94 billion, a P/E ratio of 17.63, a P/E/G ratio of 2.94 and a beta of 1.87. IPG Photonics has a 12-month low of $104.64 and a 12-month high of $261.77. The company has a quick ratio of 6.55, a current ratio of 8.54 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). The firm had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $308.75 million. IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.93 earnings per share. On average, equities research analysts expect that IPG Photonics will post 5.78 earnings per share for the current fiscal year.
IPG Photonics Company Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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