Canaccord Genuity downgraded shares of IPG Photonics Corporation (NASDAQ:IPGP) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat Ratings reports. Canaccord Genuity currently has $152.00 price target on the semiconductor company’s stock.

IPGP has been the subject of a number of other reports. Longbow Research raised shares of IPG Photonics Corporation from a neutral rating to a buy rating and set a $175.00 target price for the company in a research note on Tuesday, June 6th. Stifel Nicolaus boosted their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a hold rating in a research note on Friday, June 30th. Dougherty & Co boosted their target price on shares of IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a buy rating in a research note on Wednesday, May 3rd. Needham & Company LLC boosted their target price on shares of IPG Photonics Corporation from $146.00 to $160.00 and gave the stock a buy rating in a research note on Tuesday, June 20th. Finally, Macquarie downgraded shares of IPG Photonics Corporation from an outperform rating to a neutral rating and dropped their target price for the stock from $28.00 to $24.00 in a research note on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. IPG Photonics Corporation presently has an average rating of Buy and a consensus price target of $131.33.

Shares of IPG Photonics Corporation (IPGP) traded up 0.58% during midday trading on Tuesday, hitting $152.32. 198,670 shares of the company’s stock traded hands. IPG Photonics Corporation has a 1-year low of $80.52 and a 1-year high of $157.83. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 28.69 and a beta of 1.71. The company has a 50 day moving average price of $145.95 and a 200 day moving average price of $126.32.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.19. IPG Photonics Corporation had a net margin of 26.31% and a return on equity of 18.56%. The firm had revenue of $285.80 million during the quarter, compared to the consensus estimate of $253.97 million. During the same period last year, the firm posted $0.92 EPS. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. Equities analysts anticipate that IPG Photonics Corporation will post $5.95 earnings per share for the current year.

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In related news, SVP Eugene A. Shcherbakov sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $154.28, for a total transaction of $1,311,380.00. Following the completion of the sale, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $2,616,125.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Valentin Gapontsev Trust I sold 23,800 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $135.40, for a total transaction of $3,222,520.00. Following the sale, the insider now directly owns 7,614,471 shares of the company’s stock, valued at $1,030,999,373.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,975 shares of company stock valued at $6,331,786. Insiders own 34.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its stake in IPG Photonics Corporation by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 300 shares during the period. Atria Investments LLC increased its stake in IPG Photonics Corporation by 26.7% in the first quarter. Atria Investments LLC now owns 5,021 shares of the semiconductor company’s stock worth $606,000 after buying an additional 1,058 shares during the period. Parametrica Management Ltd acquired a new stake in IPG Photonics Corporation during the first quarter worth $308,000. Capstone Asset Management Co. increased its stake in IPG Photonics Corporation by 3.7% in the first quarter. Capstone Asset Management Co. now owns 3,910 shares of the semiconductor company’s stock worth $472,000 after buying an additional 140 shares during the period. Finally, S&CO Inc. acquired a new stake in IPG Photonics Corporation during the first quarter worth $205,000. 60.08% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Corporation Company Profile

IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.

Analyst Recommendations for IPG Photonics Corporation (NASDAQ:IPGP)

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