IPG Photonics Corporation (NASDAQ:IPGP) Stock Rated “Moderate Buy” by Wall Street Brokerages

IPG Photonics Corporation (NASDAQ:IPGP) has received a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $131.33.

A number of brokerages recently issued reports on IPGP. Weiss Ratings restated a “sell (d+)” rating on shares of IPG Photonics in a research note on Monday, September 21st. Citigroup lowered their price target on IPG Photonics from $137.00 to $135.00 and set a “buy” rating for the company in a research report on Monday. UBS Group reiterated a “buy” rating on shares of IPG Photonics in a research note on Thursday. Needham & Company LLC cut their price objective on IPG Photonics from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $92.00 price objective on shares of IPG Photonics in a research note on Thursday.

IPG Photonics Trading Up 8.2%

NASDAQ IPGP opened at $70.67 on Thursday. The company has a fifty day simple moving average of $75.82 and a two-hundred day simple moving average of $100.48. The stock has a market cap of $3.00 billion, a P/E ratio of 75.18, a P/E/G ratio of 1.68 and a beta of 1.00. IPG Photonics has a 12-month low of $61.59 and a 12-month high of $155.82.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.49 by $0.12. The business had revenue of $287.50 million during 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%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, sell-side analysts forecast that IPG Photonics will post 1.89 earnings per share for the current year.

Insider Transactions at IPG Photonics

In related news, Director Eugene A. Scherbakov sold 3,048 shares of the stock in a transaction that occurred on 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 approximately $3,852,318.60. This represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John R. Peeler purchased 2,710 shares of IPG Photonics stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost 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. The trade was a 14.91% increase in their position. The SEC filing for this purchase provides additional information. Over 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 Trading of IPG Photonics

Several large investors have recently made changes to their positions in IPGP. Assenagon Asset Management S.A. lifted its holdings in IPG Photonics by 759.3% in the third 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 during the period. State Street Corp boosted its position in IPG Photonics by 11.0% in the 2nd quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock worth $106,678,000 after purchasing an additional 90,028 shares in the last quarter. Trillium Asset Management LLC acquired a new stake in shares of IPG Photonics during the 2nd quarter worth approximately $3,938,000. Renaissance Technologies LLC grew its stake in shares of IPG Photonics by 173.8% during the 1st quarter. Renaissance Technologies LLC now owns 85,700 shares of the semiconductor company’s stock worth $9,820,000 after purchasing an additional 54,400 shares during the period. Finally, Westport Asset Management Inc. acquired a new stake in shares of IPG Photonics during the 2nd quarter worth approximately $9,092,000. 93.79% of the stock is owned by hedge funds and other institutional investors.

About IPG Photonics