Shares of IPG Photonics (NASDAQ:IPGP) have received a consensus recommendation of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $213.60.
IPGP has been the topic of several recent analyst reports. Zacks Investment Research downgraded IPG Photonics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. BidaskClub raised IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Needham & Company LLC lifted their target price on IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Northcoast Research reissued a “buy” rating and set a $290.00 target price on shares of IPG Photonics in a research note on Wednesday, January 31st. Finally, Canaccord Genuity lifted their target price on IPG Photonics from $210.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th.
Shares of IPGP stock traded up $3.17 during trading hours on Thursday, reaching $235.64. 308,511 shares of the company traded hands, compared to its average volume of 613,847. IPG Photonics has a 12-month low of $117.50 and a 12-month high of $264.11. The company has a quick ratio of 7.27, a current ratio of 8.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $12,377.89, a P/E ratio of 32.46, a PEG ratio of 2.30 and a beta of 1.82.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.14. The firm had revenue of $361.10 million for the quarter, compared to analysts’ expectations of $345.63 million. IPG Photonics had a return on equity of 21.29% and a net margin of 24.67%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 EPS. equities research analysts expect that IPG Photonics will post 8.33 earnings per share for the current fiscal year.
In other IPG Photonics news, CFO Timothy Pv Mammen sold 12,500 shares of IPG Photonics stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $243.41, for a total value of $3,042,625.00. Following the sale, the chief financial officer now owns 38,040 shares of the company’s stock, valued at approximately $9,259,316.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Hurley sold 3,500 shares of IPG Photonics stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $255.93, for a total value of $895,755.00. Following the completion of the sale, the director now directly owns 14,505 shares in the company, valued at approximately $3,712,264.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,500 shares of company stock worth $7,113,377. Corporate insiders own 33.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of IPG Photonics by 3.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,489 shares of the semiconductor company’s stock worth $1,818,000 after purchasing an additional 314 shares during the period. Xact Kapitalforvaltning AB purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $1,351,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $8,257,000. We Are One Seven LLC purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $516,000. Finally, Altman Advisors Inc. purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $2,418,000. 57.14% of the stock is currently owned by institutional investors and hedge funds.
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IPG Photonics Company Profile
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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