IPG Photonics (NASDAQ:IPGP) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
Several other research firms also recently weighed in on IPGP. DA Davidson reduced their price target on shares of IPG Photonics to $220.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. ValuEngine downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research report on Friday. Canaccord Genuity restated a “hold” rating and set a $235.00 price target on shares of IPG Photonics in a research report on Tuesday, May 1st. Zacks Investment Research downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Stifel Nicolaus started coverage on shares of IPG Photonics in a research report on Thursday, May 10th. They set a “buy” rating and a $282.00 price target for the company. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $242.00.
IPGP stock opened at $162.58 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.94 and a current ratio of 8.73. IPG Photonics has a 52-week low of $161.25 and a 52-week high of $264.11. The stock has a market cap of $8.72 billion, a PE ratio of 22.39, a PEG ratio of 1.69 and a beta of 1.83.
IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.01). IPG Photonics had a return on equity of 21.55% and a net margin of 25.96%. The firm had revenue of $413.61 million for the quarter, compared to analysts’ expectations of $418.61 million. During the same period in the previous year, the company earned $1.91 earnings per share. The company’s revenue was up 12.0% compared to the same quarter last year. sell-side analysts forecast that IPG Photonics will post 8.02 earnings per share for the current fiscal year.
In related news, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $245.63, for a total transaction of $491,260.00. Following the completion of the transaction, the insider now owns 7,565,999 shares in the company, valued at approximately $1,858,436,334.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 33.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC raised its holdings in IPG Photonics by 13,274.9% in the 1st quarter. Summit Trail Advisors LLC now owns 103,923 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 103,146 shares during the last quarter. Psagot Investment House Ltd. acquired a new stake in IPG Photonics in the 2nd quarter valued at about $124,000. NumerixS Investment Technologies Inc acquired a new stake in IPG Photonics in the 2nd quarter valued at about $128,000. Signet Financial Management LLC raised its holdings in IPG Photonics by 556.7% in the 2nd quarter. Signet Financial Management LLC now owns 683 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 579 shares during the last quarter. Finally, Pendal Group Ltd acquired a new stake in IPG Photonics in the 2nd quarter valued at about $162,000. Institutional investors own 56.53% of the company’s stock.
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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