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.
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