IPG Photonics (NASDAQ:IPGP) Stock Price Down 5.1%

Share on StockTwits

IPG Photonics Co. (NASDAQ:IPGP)’s stock price dropped 5.1% during mid-day trading on Friday . The stock traded as low as $116.17 and last traded at $118.26, approximately 466,172 shares changed hands during trading. A decline of 6% from the average daily volume of 494,150 shares. The stock had previously closed at $124.67.

IPGP has been the topic of several recent research reports. DA Davidson dropped their target price on IPG Photonics to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Zacks Investment Research upgraded IPG Photonics from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Susquehanna Bancshares set a $127.00 target price on IPG Photonics and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Cascend Securities restated a “buy” rating and set a $200.00 target price (up previously from $180.00) on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, BidaskClub downgraded IPG Photonics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $171.67.

The company has a quick ratio of 6.47, a current ratio of 8.38 and a debt-to-equity ratio of 0.02. The company has a market cap of $6.64 billion, a PE ratio of 16.02, a P/E/G ratio of 3.59 and a beta of 2.13. The stock has a 50-day moving average of $130.48 and a 200-day moving average of $145.77.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The business had revenue of $363.80 million during the quarter, compared to analysts’ expectations of $352.31 million. During the same quarter last year, the business posted $2.21 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. Research analysts expect that IPG Photonics Co. will post 4.71 EPS for the current year.

In related news, SVP Trevor Ness sold 166 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $165.00, for a total value of $27,390.00. Following the sale, the senior vice president now owns 20,753 shares in the company, valued at $3,424,245. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.53, for a total value of $1,505,300.00. Following the completion of the sale, the insider now owns 7,545,999 shares in the company, valued at approximately $1,135,899,229.47. The disclosure for this sale can be found here. Insiders sold 13,049 shares of company stock worth $1,957,905 in the last quarter. 33.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. TRUE Private Wealth Advisors purchased a new stake in IPG Photonics during the second quarter valued at about $38,000. Griffin Asset Management Inc. purchased a new stake in IPG Photonics during the second quarter valued at about $42,000. Manchester Capital Management LLC purchased a new stake in IPG Photonics during the first quarter valued at about $59,000. Stephens Inc. AR raised its position in IPG Photonics by 89.4% during the first quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 235 shares in the last quarter. Finally, Signaturefd LLC raised its position in IPG Photonics by 322.5% during the second quarter. Signaturefd LLC now owns 507 shares of the semiconductor company’s stock valued at $78,000 after purchasing an additional 387 shares in the last quarter. Institutional investors and hedge funds own 64.58% of the company’s stock.

About IPG Photonics (NASDAQ:IPGP)

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.

Recommended Story: Call Option Volume

Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Brokerages Set SharpSpring Inc  Price Target at $17.33
Brokerages Set SharpSpring Inc Price Target at $17.33
Tufin Software Technologies Ltd  Given Average Recommendation of “Buy” by Analysts
Tufin Software Technologies Ltd Given Average Recommendation of “Buy” by Analysts
Sealchain Reaches 24 Hour Volume of $1.98 Million
Sealchain Reaches 24 Hour Volume of $1.98 Million
AtriCure Inc.  Given Average Rating of “Buy” by Brokerages
AtriCure Inc. Given Average Rating of “Buy” by Brokerages
Cryptonex 24-Hour Volume Tops $3.12 Million
Cryptonex 24-Hour Volume Tops $3.12 Million
Aegeus  Price Hits $0.0015 on Top Exchanges
Aegeus Price Hits $0.0015 on Top Exchanges


 
© 2006-2019 Zolmax.