IPG Photonics Co. (NASDAQ:IPGP) has been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $165.29.
A number of analysts have commented on the stock. Needham & Company LLC lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Monday, October 14th. Susquehanna Bancshares set a $127.00 target price on shares of IPG Photonics and gave the stock a “hold” rating in a report on Wednesday, July 31st. DA Davidson lowered their target price on shares of IPG Photonics to $175.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. BidaskClub raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. Finally, Canaccord Genuity set a $150.00 target price on shares of IPG Photonics and gave the stock a “hold” rating in a report on Wednesday, July 31st.
Shares of IPG Photonics stock traded up $1.99 during midday trading on Monday, reaching $136.75. The company had a trading volume of 385,942 shares, compared to its average volume of 472,029. The company has a current ratio of 8.38, a quick ratio of 6.47 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 3.84 and a beta of 2.18. The stock has a fifty day simple moving average of $133.85 and a 200 day simple moving average of $140.36. IPG Photonics has a 1-year low of $104.64 and a 1-year high of $182.17.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.07). The company had revenue of $363.80 million during the quarter, compared to analyst estimates of $352.31 million. IPG Photonics had a net margin of 22.23% and a return on equity of 13.68%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 EPS. Sell-side analysts expect that IPG Photonics will post 4.78 earnings per share for the current year.
In other news, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.01, for a total transaction of $104,008.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 33.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its position in IPG Photonics by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,373 shares of the semiconductor company’s stock valued at $1,137,000 after acquiring an additional 83 shares in the last quarter. Flinton Capital Management LLC lifted its position in IPG Photonics by 7.6% in the 2nd quarter. Flinton Capital Management LLC now owns 2,272 shares of the semiconductor company’s stock valued at $350,000 after acquiring an additional 160 shares in the last quarter. Garrison Asset Management LLC lifted its position in IPG Photonics by 1.0% in the 2nd quarter. Garrison Asset Management LLC now owns 17,577 shares of the semiconductor company’s stock valued at $2,711,000 after acquiring an additional 167 shares in the last quarter. Meeder Asset Management Inc. lifted its position in IPG Photonics by 222.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 277 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 191 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in IPG Photonics by 3.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,260 shares of the semiconductor company’s stock valued at $811,000 after acquiring an additional 194 shares in the last quarter. 64.22% 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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