Sanford C. Bernstein initiated coverage on shares of IPG Photonics (NASDAQ:IPGP) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $294.00 price objective on the semiconductor company’s stock.
A number of other equities analysts have also recently commented on the stock. ValuEngine raised shares of IPG Photonics from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of IPG Photonics from a hold rating to a strong-buy rating and set a $275.00 price objective for the company in a research note on Thursday, February 22nd. DA Davidson lifted their price objective on shares of IPG Photonics from $1.86 to $275.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. Benchmark reissued a buy rating and issued a $255.00 price objective (up from $230.00) on shares of IPG Photonics in a research note on Tuesday, February 20th. Finally, Canaccord Genuity lifted their price objective on shares of IPG Photonics from $210.00 to $235.00 and gave the stock a hold rating in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $220.91.
Shares of NASDAQ:IPGP opened at $232.13 on Wednesday. IPG Photonics has a 52 week low of $119.89 and a 52 week high of $264.11. The firm has a market capitalization of $12,473.04, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.82 and a quick ratio of 7.27.
IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Friday, February 16th. The semiconductor company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.14. IPG Photonics had a net margin of 24.67% and a return on equity of 21.29%. The business had revenue of $361.10 million during the quarter, compared to analysts’ expectations of $345.63 million. During the same period last year, the company posted $1.39 EPS. The business’s revenue was up 28.9% on a year-over-year basis. research analysts expect that IPG Photonics will post 8.33 EPS for the current fiscal year.
In related news, Director John R. Peeler sold 2,266 shares of IPG Photonics stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $252.95, for a total transaction of $573,184.70. Following the completion of the transaction, the director now directly owns 9,270 shares of the company’s stock, valued at approximately $2,344,846.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William S. Hurley sold 3,500 shares of IPG Photonics stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $255.93, for a total transaction of $895,755.00. Following the sale, the director now owns 14,505 shares of the company’s stock, valued at approximately $3,712,264.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,000 shares of company stock valued at $6,459,552. 33.80% 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. BlackRock Inc. lifted its holdings in IPG Photonics by 20.1% during the 4th quarter. BlackRock Inc. now owns 3,874,614 shares of the semiconductor company’s stock valued at $829,672,000 after buying an additional 648,145 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in IPG Photonics during the 4th quarter valued at about $134,367,000. UBS Asset Management Americas Inc. lifted its holdings in IPG Photonics by 170.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 491,489 shares of the semiconductor company’s stock valued at $105,243,000 after buying an additional 309,611 shares in the last quarter. Deutsche Bank AG lifted its holdings in IPG Photonics by 157.7% during the 4th quarter. Deutsche Bank AG now owns 200,599 shares of the semiconductor company’s stock valued at $42,952,000 after buying an additional 122,759 shares in the last quarter. Finally, AXA lifted its holdings in IPG Photonics by 29.8% during the 4th quarter. AXA now owns 520,090 shares of the semiconductor company’s stock valued at $111,367,000 after buying an additional 119,316 shares in the last quarter. Institutional investors own 57.14% of the company’s stock.
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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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