IPG Photonics (NASDAQ:IPGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “IPG Photonics develops and manufactures fiber & diode lasers, fiber amplifiers and transceivers. Strong adoption of fiber lasers over conventional lasers and non-laser cutting and welding equipment bodes well for the company. Secular transition to high powered products and increased electric vehicle battery production primarily drive the increased adoption of the high powered lasers. The company is gaining in China, Europe, North America and Japan. Further, its vertically integrated business model is helping IPG keep costs down. Acquisitions like Menara Networks and ILT have helped portfolio expansion. Shares outperformed the industry in the past year. The company has positive record of earnings surprises in recent quarters. However, estimates have been stable lately ahead of the company’s Q1 earnings release. Volatility faced by materials processing markets, customer concentration and significant China exposure remain major headwinds.”
IPGP has been the topic of a number of other reports. Sanford C. Bernstein started coverage on shares of IPG Photonics in a research note on Wednesday, April 18th. They issued an “outperform” rating and a $294.00 price objective on the stock. BidaskClub raised shares of IPG Photonics from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. ValuEngine raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Benchmark reaffirmed 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 raised their price objective on shares of IPG Photonics from $210.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $220.91.
IPGP opened at $214.09 on Tuesday. IPG Photonics has a one year low of $124.30 and a one year high of $264.11. The company has a current ratio of 8.82, a quick ratio of 7.27 and a debt-to-equity ratio of 0.02. The company has a market cap of $11,710.52, a PE ratio of 30.02, a P/E/G ratio of 2.18 and a beta of 1.82.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Friday, February 16th. The semiconductor company reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $345.63 million. During the same period in the prior year, the firm earned $1.39 earnings per share. IPG Photonics’s revenue was up 28.9% compared to the same quarter last year. equities analysts anticipate that IPG Photonics will post 8.33 EPS for the current fiscal year.
In other news, CFO Timothy Pv Mammen sold 5,000 shares of IPG Photonics stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $252.46, for a total transaction of $1,262,300.00. Following the transaction, the chief financial officer now directly owns 36,100 shares of the company’s stock, valued at $9,113,806. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William S. Hurley sold 3,500 shares of IPG Photonics stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $255.93, for a total transaction of $895,755.00. Following the transaction, the director now directly owns 14,505 shares in the company, valued at $3,712,264.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,000 shares of company stock worth $6,459,552. Insiders own 33.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of IPG Photonics by 243.5% during the fourth quarter. Bank of Montreal Can now owns 37,529 shares of the semiconductor company’s stock worth $8,036,000 after purchasing an additional 26,605 shares in the last quarter. Deutsche Bank AG boosted its position in shares of IPG Photonics by 157.7% during the fourth quarter. Deutsche Bank AG now owns 200,599 shares of the semiconductor company’s stock worth $42,952,000 after purchasing an additional 122,759 shares in the last quarter. BlackRock Inc. boosted its position in shares of IPG Photonics by 20.1% during the fourth quarter. BlackRock Inc. now owns 3,874,614 shares of the semiconductor company’s stock worth $829,672,000 after purchasing an additional 648,145 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of IPG Photonics during the fourth quarter worth $3,967,000. Finally, First Trust Advisors LP boosted its position in shares of IPG Photonics by 76.6% during the fourth quarter. First Trust Advisors LP now owns 210,503 shares of the semiconductor company’s stock worth $45,075,000 after purchasing an additional 91,296 shares in the last quarter. 57.42% of the stock is currently owned by institutional investors.
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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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