IPG Photonics Co. (NASDAQ:IPGP) has received an average recommendation of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $212.67.
IPGP has been the topic of a number of recent analyst reports. DA Davidson dropped their price target on shares of IPG Photonics to $220.00 and set a “buy” rating on the stock 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, August 10th. BidaskClub downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Zacks Investment Research downgraded shares of IPG Photonics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, Benchmark dropped their price target on shares of IPG Photonics from $170.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, October 31st.
NASDAQ:IPGP traded up $2.12 during mid-day trading on Friday, hitting $139.86. The stock had a trading volume of 231,638 shares, compared to its average volume of 752,947. The company has a market cap of $7.36 billion, a PE ratio of 19.26, a P/E/G ratio of 2.01 and a beta of 1.77. IPG Photonics has a 52 week low of $107.59 and a 52 week high of $264.11. The company has a quick ratio of 6.81, a current ratio of 8.64 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.01). The firm had revenue of $356.35 million during the quarter, compared to the consensus estimate of $355.48 million. IPG Photonics had a net margin of 25.58% and a return on equity of 20.30%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. As a group, equities analysts anticipate that IPG Photonics will post 7.41 EPS for the current year.
In related news, CAO Thomas J. Burgomaster sold 637 shares of the business’s stock in a transaction that occurred on Sunday, November 11th. The shares were sold at an average price of $90.85, for a total value of $57,871.45. Following the sale, the chief accounting officer now directly owns 6,037 shares in the company, valued at approximately $548,461.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas J. Burgomaster sold 294 shares of the business’s stock in a transaction that occurred on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total transaction of $27,547.80. Following the completion of the sale, the chief accounting officer now owns 6,037 shares in the company, valued at $565,666.90. The disclosure for this sale can be found here. Insiders sold a total of 1,131 shares of company stock worth $103,915 over the last quarter. Insiders own 33.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. Mackenzie Financial Corp raised its holdings in shares of IPG Photonics by 307.3% in the 3rd quarter. Mackenzie Financial Corp now owns 864,514 shares of the semiconductor company’s stock worth $134,925,000 after purchasing an additional 652,276 shares in the last quarter. FMR LLC increased its position in shares of IPG Photonics by 77.9% in the third quarter. FMR LLC now owns 743,049 shares of the semiconductor company’s stock worth $115,967,000 after acquiring an additional 325,425 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of IPG Photonics by 67.0% in the third quarter. Pictet Asset Management Ltd. now owns 741,301 shares of the semiconductor company’s stock worth $115,695,000 after acquiring an additional 297,295 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new position in shares of IPG Photonics in the second quarter worth approximately $58,469,000. Finally, United Services Automobile Association increased its position in shares of IPG Photonics by 396.1% in the second quarter. United Services Automobile Association now owns 323,519 shares of the semiconductor company’s stock worth $13,847,000 after acquiring an additional 258,306 shares in the last quarter. Institutional investors and hedge funds own 60.76% 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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