IPG Photonics Co. (NASDAQ:IPGP) Receives $110.40 Average PT from Analysts

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $110.40.

A number of equities research analysts recently weighed in on IPGP shares. Benchmark dropped their price target on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Citigroup lowered their target price on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st.

Insider Buying and Selling at IPG Photonics

In other news, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the transaction, the director now directly owns 16,491 shares of the company’s stock, valued at $1,472,646.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the transaction, the insider now directly owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the sale, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The disclosure for this sale can be found here. Insiders sold a total of 10,773 shares of company stock worth $927,030 over the last quarter. 38.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IPG Photonics

Large investors have recently bought and sold shares of the company. Channing Capital Management LLC purchased a new position in IPG Photonics in the 4th quarter worth about $70,719,000. Norges Bank purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $36,365,000. New York State Common Retirement Fund grew its position in shares of IPG Photonics by 636.6% in the 4th quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock worth $22,197,000 after buying an additional 176,739 shares during the last quarter. M&G Plc purchased a new position in shares of IPG Photonics in the 1st quarter worth approximately $15,929,000. Finally, Artisan Partners Limited Partnership purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $16,035,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Trading Up 1.9 %

NASDAQ IPGP opened at $86.07 on Monday. IPG Photonics has a 52 week low of $80.27 and a 52 week high of $141.85. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 22.18 and a beta of 1.01. The company has a 50-day moving average price of $85.89 and a two-hundred day moving average price of $90.59.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data 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 net margin of 15.34% and a return on equity of 7.67%. The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $255.53 million. During the same period last year, the firm posted $1.26 earnings per share. The business’s revenue was down 27.4% on a year-over-year basis. As a group, equities research analysts expect that IPG Photonics will post 2.77 earnings per share for the current fiscal year.

About IPG Photonics

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.