IPG Photonics Corp. (NASDAQ:IPGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “IPG PHOTONICS is the world leader in high-power fiber lasers and amplifiers. IPG pioneered the development and commercialization of optical fiber-based lasers for use in a wide range of applications such as materials processing, advanced applications, telecommunications and medical applications. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. “

IPGP has been the subject of several other research reports. reissued an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics Corp. in a research report on Tuesday, September 13th. Canaccord Genuity set a $100.00 price target on shares of IPG Photonics Corp. and gave the stock a “buy” rating in a research report on Thursday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $96.00 price target (down previously from $98.00) on shares of IPG Photonics Corp. in a research report on Monday, August 1st. Finally, Summit Redstone reissued a “buy” rating on shares of IPG Photonics Corp. in a research report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $96.43.

Analyst Recommendations for IPG Photonics Corp. (NASDAQ:IPGP)

IPG Photonics Corp. (NASDAQ:IPGP) remained flat at $97.12 during midday trading on Thursday. The company had a trading volume of 109,757 shares. The company has a 50-day moving average price of $90.23 and a 200-day moving average price of $85.34. IPG Photonics Corp. has a 52-week low of $73.55 and a 52-week high of $102.90. The company has a market cap of $5.16 billion, a PE ratio of 21.21 and a beta of 2.07.

IPG Photonics Corp. (NASDAQ:IPGP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.06. IPG Photonics Corp. had a net margin of 25.83% and a return on equity of 17.73%. The firm earned $266 million during the quarter, compared to analyst estimates of $255.27 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts expect that IPG Photonics Corp. will post $4.71 EPS for the current fiscal year.

In other news, SVP Angelo P. Lopresti sold 1,911 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $96.31, for a total transaction of $184,048.41. Following the sale, the senior vice president now directly owns 47,282 shares of the company’s stock, valued at $4,553,729.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Angelo P. Lopresti sold 5,589 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $96.30, for a total transaction of $538,220.70. Following the sale, the senior vice president now directly owns 41,693 shares in the company, valued at $4,015,035.90. The disclosure for this sale can be found here. Insiders own 34.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in IPG Photonics Corp. by 184.2% in the third quarter. JPMorgan Chase & Co. now owns 1,245 shares of the company’s stock valued at $102,000 after buying an additional 807 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IPG Photonics Corp. by 12.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,249 shares of the company’s stock worth $103,000 after buying an additional 138 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of IPG Photonics Corp. during the second quarter worth about $103,000. Ropes Wealth Advisors LLC boosted its position in shares of IPG Photonics Corp. by 286.8% in the third quarter. Ropes Wealth Advisors LLC now owns 2,050 shares of the company’s stock worth $169,000 after buying an additional 1,520 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $177,000 after buying an additional 919 shares during the last quarter. 58.91% of the stock is currently owned by institutional investors and hedge funds.

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About IPG Photonics Corp.

IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.

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