IPG Photonics (NASDAQ:IPGP)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday, The Fly reports. They currently have a $255.00 target price on the semiconductor company’s stock. Benchmark’s price target indicates a potential upside of 6.53% from the stock’s previous close.
IPGP has been the topic of several other reports. Zacks Investment Research lowered shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Needham & Company LLC boosted their target price on shares of IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Northcoast Research reiterated a “buy” rating and issued a $290.00 target price on shares of IPG Photonics in a report on Wednesday, January 31st. BidaskClub lowered shares of IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, ValuEngine lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $206.10.
IPG Photonics (NASDAQ IPGP) opened at $239.36 on Tuesday. The firm has a market cap of $12,833.50, a PE ratio of 37.64, a P/E/G ratio of 2.62 and a beta of 1.88. IPG Photonics has a 52-week low of $116.02 and a 52-week high of $264.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.27 and a current ratio of 8.82.
IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.14. The company had revenue of $361.10 million for the quarter, compared to analyst estimates of $345.63 million. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. IPG Photonics’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 EPS. analysts anticipate that IPG Photonics will post 7.63 EPS for the current fiscal year.
In other news, SVP Trevor Ness sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $208.17, for a total value of $2,081,700.00. Following the sale, the senior vice president now directly owns 22,906 shares of the company’s stock, valued at approximately $4,768,342.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.53, for a total transaction of $653,825.00. Following the completion of the sale, the chief financial officer now directly owns 33,600 shares in the company, valued at $8,787,408. The disclosure for this sale can be found here. Insiders sold a total of 49,500 shares of company stock worth $11,979,620 over the last three months. Insiders own 33.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in IPG Photonics during the 2nd quarter worth approximately $352,000. Canada Pension Plan Investment Board purchased a new stake in IPG Photonics during the 3rd quarter worth approximately $8,013,000. Alps Advisors Inc. increased its stake in IPG Photonics by 14.4% during the 3rd quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock worth $857,000 after buying an additional 582 shares during the period. Moors & Cabot Inc. purchased a new stake in IPG Photonics during the 3rd quarter worth approximately $1,374,000. Finally, Westpac Banking Corp purchased a new stake in IPG Photonics during the 3rd quarter worth approximately $6,274,000. 57.33% of the stock is currently owned by institutional investors and hedge funds.
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About IPG Photonics
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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