Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $117.20

IPG Photonics Co. (NASDAQ:IPGP) has been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $117.20.

A number of equities analysts have recently issued reports on the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. Citigroup lowered shares of IPG Photonics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $111.00 to $74.00 in a report on Thursday, February 15th. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Finally, StockNews.com lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $85.68, for a total value of $856,800.00. Following the sale, the insider now directly owns 7,219,599 shares of the company’s stock, valued at $618,575,242.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $85.68, for a total value of $856,800.00. Following the sale, the insider now directly owns 7,219,599 shares of the company’s stock, valued at $618,575,242.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Meurice sold 629 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total transaction of $62,900.00. Following the completion of the sale, the director now directly owns 16,491 shares in the company, valued at $1,649,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,629 shares of company stock valued at $2,588,040. 37.10% of the stock is owned by insiders.

Institutional Investors Weigh In On IPG Photonics

Hedge funds have recently modified their holdings of the company. VisionPoint Advisory Group LLC boosted its stake in shares of IPG Photonics by 127.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 145 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of IPG Photonics during the 4th quarter worth about $40,000. Disciplined Equity Management Inc. purchased a new stake in shares of IPG Photonics during the 4th quarter worth about $43,000. Assetmark Inc. raised its position in shares of IPG Photonics by 39.4% during the 3rd quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 173 shares during the last quarter. Finally, AM Squared Ltd raised its position in shares of IPG Photonics by 200.0% during the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 400 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Trading Up 0.2 %

Shares of IPGP stock opened at $88.40 on Wednesday. The business’s fifty day simple moving average is $87.69 and its 200-day simple moving average is $94.32. The company has a market cap of $4.08 billion, a PE ratio of 19.13, a PEG ratio of 17.47 and a beta of 1.19. IPG Photonics has a 12-month low of $83.00 and a 12-month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $298.89 million for the quarter, compared to analyst estimates of $287.03 million. IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted ($1.91) earnings per share. On average, equities analysts forecast that IPG Photonics will post 3.23 earnings per share for the current year.

IPG Photonics announced that its board has approved a stock repurchase plan on Tuesday, February 13th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

IPG Photonics Company Profile

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.