IPG Photonics (NASDAQ:IPGP – Get Rating) was upgraded by investment analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat Ratings reports.
Other research analysts have also issued reports about the stock. Benchmark decreased their price objective on shares of IPG Photonics to $165.00 in a report on Tuesday, August 9th. StockNews.com started coverage on shares of IPG Photonics in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Citigroup reduced their price target on shares of IPG Photonics from $157.00 to $146.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $143.43.
IPG Photonics Price Performance
Shares of IPGP stock opened at $87.90 on Tuesday. The firm has a market cap of $4.41 billion, a P/E ratio of 17.51, a P/E/G ratio of 5.09 and a beta of 1.34. IPG Photonics has a 1-year low of $79.88 and a 1-year high of $177.26. The firm has a fifty day moving average of $87.96 and a two-hundred day moving average of $94.72.
IPG Photonics (NASDAQ:IPGP – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.26. The company had revenue of $377.02 million during the quarter, compared to analyst estimates of $373.26 million. IPG Photonics had a net margin of 17.91% and a return on equity of 10.31%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. On average, sell-side analysts expect that IPG Photonics will post 4.68 EPS for the current year.
Insider Activity at IPG Photonics
In related news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of IPG Photonics stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $99.53, for a total value of $497,650.00. Following the sale, the insider now directly owns 7,424,599 shares in the company, valued at approximately $738,970,338.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 35,000 shares of company stock worth $3,236,300 in the last ninety days. 33.50% of the stock is owned by insiders.
Institutional Trading of IPG Photonics
Several hedge funds have recently bought and sold shares of the company. Wipfli Financial Advisors LLC bought a new stake in shares of IPG Photonics during the 3rd quarter worth about $36,000. Signaturefd LLC raised its position in shares of IPG Photonics by 174.3% during the 1st quarter. Signaturefd LLC now owns 384 shares of the semiconductor company’s stock worth $42,000 after buying an additional 244 shares in the last quarter. Cutler Group LP bought a new stake in shares of IPG Photonics during the 1st quarter worth about $43,000. Quadrant Capital Group LLC raised its position in shares of IPG Photonics by 195.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 478 shares of the semiconductor company’s stock worth $45,000 after buying an additional 316 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of IPG Photonics during the 2nd quarter worth about $55,000. 65.21% of the stock is currently owned by institutional investors.
About IPG Photonics
(Get Rating)
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. The company’s 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.
Recommended Stories
Receive News & Ratings for IPG Photonics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for IPG Photonics and related companies with MarketBeat.com’s FREE daily email newsletter.
