IPG Photonics (NASDAQ:IPGP) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of IPG Photonics (NASDAQ:IPGP) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of IPG Photonics from a c+ rating to a b- rating in a research note on Tuesday, February 26th. DA Davidson lifted their price target on shares of IPG Photonics to $205.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Cascend Securities reissued a buy rating and issued a $200.00 price target (up previously from $180.00) on shares of IPG Photonics in a research note on Wednesday, May 1st. Needham & Company LLC lifted their price target on shares of IPG Photonics from $170.00 to $185.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, Bank of America raised shares of IPG Photonics from a neutral rating to a buy rating and set a $200.00 price target on the stock in a research note on Monday, April 22nd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $185.90.

NASDAQ:IPGP opened at $146.48 on Thursday. The company has a quick ratio of 6.55, a current ratio of 8.54 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.78 billion, a PE ratio of 22.43, a PEG ratio of 3.31 and a beta of 2.07. IPG Photonics has a 1-year low of $104.64 and a 1-year high of $243.43.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.02). IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The company had revenue of $315.00 million during the quarter, compared to analyst estimates of $308.75 million. During the same period in the prior year, the business posted $1.93 EPS. IPG Photonics’s revenue was down 12.5% compared to the same quarter last year. Analysts expect that IPG Photonics will post 5.6 earnings per share for the current fiscal year.

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction on Monday, May 6th. The shares were sold at an average price of $162.59, for a total transaction of $1,625,900.00. Following the sale, the insider now owns 7,555,999 shares of the company’s stock, valued at approximately $1,228,529,877.41. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Trevor Ness sold 5,025 shares of IPG Photonics stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $170.22, for a total transaction of $855,355.50. Following the sale, the senior vice president now directly owns 25,657 shares in the company, valued at approximately $4,367,334.54. The disclosure for this sale can be found here. Insiders sold a total of 15,825 shares of company stock worth $2,618,936 in the last three months. 33.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IPGP. Norges Bank acquired a new stake in IPG Photonics during the 4th quarter worth $68,325,000. Brandywine Global Investment Management LLC boosted its position in shares of IPG Photonics by 2,528,921.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 480,514 shares of the semiconductor company’s stock valued at $54,438,000 after acquiring an additional 480,495 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of IPG Photonics by 222.5% during the 4th quarter. Two Sigma Advisers LP now owns 344,686 shares of the semiconductor company’s stock valued at $39,049,000 after acquiring an additional 237,800 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of IPG Photonics by 170.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 358,361 shares of the semiconductor company’s stock valued at $40,599,000 after acquiring an additional 225,801 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of IPG Photonics by 115.3% during the 4th quarter. Two Sigma Investments LP now owns 341,822 shares of the semiconductor company’s stock valued at $38,725,000 after acquiring an additional 183,021 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors.

About IPG Photonics

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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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