IPG Photonics Co. (NASDAQ:IPGP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $110.40.

IPGP has been the subject of several research reports. Citigroup cut their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. Benchmark cut their target price on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st.

IPG Photonics Trading Up 1.6 %

IPGP stock opened at $86.25 on Thursday. The company’s 50 day moving average is $86.81 and its 200 day moving average is $92.83. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 22.23 and a beta of 1.08. IPG Photonics has a 1-year low of $80.33 and a 1-year high of $141.85.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. IPG Photonics’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, sell-side analysts forecast that IPG Photonics will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total transaction of $895,600.00. Following the completion of the sale, the insider now owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Jeanmarie F. Desmond sold 985 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the sale, the insider now directly owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,773 shares of company stock valued at $1,822,630. 38.00% of the stock is currently owned by company insiders.

Institutional Trading of IPG Photonics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in IPG Photonics by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after acquiring an additional 11,830 shares during the period. Invesco Ltd. lifted its stake in IPG Photonics by 9.6% in the third quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company’s stock worth $84,968,000 after acquiring an additional 73,182 shares during the period. Dimensional Fund Advisors LP raised its holdings in IPG Photonics by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 789,991 shares of the semiconductor company’s stock worth $85,750,000 after purchasing an additional 8,445 shares in the last quarter. Channing Capital Management LLC bought a new position in IPG Photonics in the fourth quarter worth $70,719,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in IPG Photonics by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company’s stock worth $42,141,000 after purchasing an additional 5,958 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

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.