Shares of IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $131.33.
Several equities research analysts have weighed in on the stock. Citigroup cut their target price on shares of IPG Photonics from $137.00 to $135.00 and set a “buy” rating on the stock in a report on Monday. UBS Group reissued a “buy” rating on shares of IPG Photonics in a report on Thursday, November 5th. Needham & Company LLC lowered their price objective on shares of IPG Photonics from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $92.00 price objective on shares of IPG Photonics in a research note on Thursday, November 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of IPG Photonics in a report on Monday, September 21st.
View Our Latest Analysis on IPGP
Insiders Place Their Bets
In other IPG Photonics news, Director John Peeler purchased 2,710 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were bought at an average price of $73.58 per share, with a total value of $199,401.80. Following the completion of the transaction, the director directly owned 20,886 shares in the company, valued at $1,536,791.88. This trade represents a 14.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene Scherbakov sold 3,048 shares of IPG Photonics stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $85.30, for a total value of $259,994.40. Following the transaction, the director owned 45,162 shares in the company, valued at $3,852,318.60. This trade represents a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 66,458 shares of company stock worth $5,194,276. 37.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its stake in IPG Photonics by 759.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 182,823 shares of the semiconductor company’s stock valued at $14,311,000 after acquiring an additional 161,547 shares in the last quarter. State Street Corp boosted its holdings in shares of IPG Photonics by 11.0% in the 2nd quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock valued at $106,678,000 after buying an additional 90,028 shares during the last quarter. Trillium Asset Management LLC acquired a new position in IPG Photonics during the second quarter worth $3,938,000. Renaissance Technologies LLC increased its holdings in IPG Photonics by 173.8% during the first quarter. Renaissance Technologies LLC now owns 85,700 shares of the semiconductor company’s stock worth $9,820,000 after buying an additional 54,400 shares during the last quarter. Finally, Westport Asset Management Inc. acquired a new position in IPG Photonics during the second quarter worth $9,092,000. Institutional investors own 93.79% of the company’s stock.
IPG Photonics Trading Up 1.9%
IPG Photonics stock opened at $70.81 on Thursday. The firm has a market capitalization of $3.01 billion, a P/E ratio of 75.33, a PEG ratio of 1.64 and a beta of 1.00. The business has a 50-day moving average of $75.60 and a 200-day moving average of $100.31. IPG Photonics has a 1 year low of $61.59 and a 1 year high of $155.82.
IPG Photonics (NASDAQ:IPGP – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. The business had revenue of $287.50 million for the quarter, compared to the consensus estimate of $283.31 million. IPG Photonics had a net margin of 3.65% and a return on equity of 3.91%. IPG Photonics’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Research analysts anticipate that IPG Photonics will post 1.90 EPS for the current fiscal year.
IPG Photonics Company Profile
IPG Photonics develops and manufactures fiber lasers, diode lasers, and optical amplifiers. Its products are used in materials processing applications such as cutting, welding, marking, and engraving, as well as in medical, communications, and other advanced applications. Founded in 1990 by physicist Valentin Gapontsev, the company helped establish fiber lasers as an alternative to other industrial laser technologies. IPG Photonics is headquartered in Oxford, Massachusetts, and serves customers around the world through its international operations and sales network.
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