IPG Photonics Co. (NASDAQ:IPGP) Receives $110.40 Consensus Price Target from Analysts

Shares of IPG Photonics Co. (NASDAQ:IPGPGet Free Report) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $110.40.

A number of equities research analysts recently commented on IPGP shares. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Citigroup dropped their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Benchmark decreased their target price on IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th.

Check Out Our Latest Stock Analysis on IPG Photonics

IPG Photonics Price Performance

IPGP stock opened at $87.47 on Friday. The business has a 50-day moving average price of $87.91 and a 200 day moving average price of $93.94. The company has a market capitalization of $3.99 billion, a P/E ratio of 22.54 and a beta of 1.17. IPG Photonics has a 1-year low of $80.33 and a 1-year high of $141.85.

IPG Photonics (NASDAQ:IPGPGet Free Report) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, analysts anticipate that IPG Photonics will post 2.81 earnings per share for the current fiscal year.

IPG Photonics declared that its board has authorized a stock repurchase program on Tuesday, February 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction on Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares of the company’s stock, valued at $1,472,646.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total transaction of $772,740.00. Following the transaction, the insider now owns 7,200,599 shares in the company, valued at $618,243,430.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eric Meurice sold 788 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. Insiders sold a total of 29,788 shares of company stock valued at $2,595,508 over the last quarter. Company insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates acquired a new stake in shares of IPG Photonics during the 3rd quarter valued at $314,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IPG Photonics by 7.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,417 shares of the semiconductor company’s stock valued at $652,000 after acquiring an additional 462 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of IPG Photonics by 39.4% in the third quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 173 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of IPG Photonics in the third quarter valued at $332,000. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of IPG Photonics by 17.6% in the third quarter. Rice Hall James & Associates LLC now owns 38,270 shares of the semiconductor company’s stock valued at $3,886,000 after purchasing an additional 5,717 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

About IPG Photonics

(Get Free Report

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

Further Reading

Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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