Benchmark reiterated their buy rating on shares of IPG Photonics (NASDAQ:IPGP) in a research report sent to investors on Monday. They currently have a $262.00 target price on the semiconductor company’s stock.
“We hosted meetings between mid-West investors and IPG. The meetings focused on growth expectations, new products, and the competitive landscape.”,” Benchmark’s analyst wrote.
Several other brokerages have also recently commented on IPGP. BidaskClub cut shares of IPG Photonics from a strong-buy rating to a buy rating in a research report on Thursday, April 26th. DA Davidson upped their target price on IPG Photonics from $1.86 to $275.00 and gave the company a buy rating in a report on Wednesday, February 21st. Canaccord Genuity reissued a hold rating and issued a $235.00 price target on shares of IPG Photonics in a research note on Tuesday, May 1st. ValuEngine raised IPG Photonics from a hold rating to a buy rating in a research note on Thursday, March 1st. Finally, Northcoast Research reaffirmed a buy rating and set a $290.00 target price on shares of IPG Photonics in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $239.20.
IPGP stock opened at $245.66 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.54 and a quick ratio of 7.71. IPG Photonics has a 1-year low of $135.72 and a 1-year high of $264.11. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 2.38 and a beta of 1.85.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.13. The company had revenue of $359.90 million during the quarter, compared to the consensus estimate of $346.35 million. IPG Photonics had a net margin of 25.56% and a return on equity of 21.59%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. equities research analysts predict that IPG Photonics will post 8.48 earnings per share for the current fiscal year.
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $253.88, for a total transaction of $2,538,800.00. Following the transaction, the insider now owns 7,567,999 shares of the company’s stock, valued at approximately $1,921,363,586.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now owns 38,040 shares of the company’s stock, valued at $9,259,316.40. The disclosure for this sale can be found here. In the last three months, insiders sold 62,255 shares of company stock worth $15,234,504. 33.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC boosted its stake in IPG Photonics by 13,274.9% in the 1st quarter. Summit Trail Advisors LLC now owns 103,923 shares of the semiconductor company’s stock valued at $104,000 after purchasing an additional 103,146 shares during the period. Navellier & Associates Inc raised its holdings in shares of IPG Photonics by 1.2% during the 1st quarter. Navellier & Associates Inc now owns 30,088 shares of the semiconductor company’s stock worth $7,022,000 after buying an additional 362 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of IPG Photonics during the 1st quarter worth $1,209,000. Handelsbanken Fonder AB raised its holdings in shares of IPG Photonics by 9.8% during the 1st quarter. Handelsbanken Fonder AB now owns 257,176 shares of the semiconductor company’s stock worth $60,020,000 after buying an additional 22,865 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new position in IPG Photonics in the 1st quarter worth about $336,000. Institutional investors and hedge funds own 57.16% of the company’s stock.
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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