IPG Photonics Corporation (NASDAQ:IPGP) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $182.00 target price (up previously from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st. Benchmark Co. reiterated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Canaccord Genuity boosted their price target on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Longbow Research raised shares of IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Tuesday, June 6th. Finally, Stifel Nicolaus increased their price objective on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $150.25.

Shares of IPG Photonics Corporation (NASDAQ:IPGP) opened at 187.49 on Monday. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 31.39 and a beta of 1.68. The stock’s 50 day moving average price is $175.99 and its 200 day moving average price is $148.47. IPG Photonics Corporation has a one year low of $81.00 and a one year high of $187.77.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The business had revenue of $369.37 million during the quarter, compared to analysts’ expectations of $333.06 million. During the same quarter last year, the business posted $1.25 EPS. The business’s quarterly revenue was up 46.1% compared to the same quarter last year. Analysts forecast that IPG Photonics Corporation will post $6.64 earnings per share for the current year.

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In other news, Director William S. Hurley sold 8,167 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now owns 12,672 shares in the company, valued at approximately $2,096,202.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eugene A. Shcherbakov sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $154.28, for a total transaction of $1,311,380.00. Following the sale, the senior vice president now owns 16,957 shares of the company’s stock, valued at approximately $2,616,125.96. The disclosure for this sale can be found here. Insiders sold 62,017 shares of company stock valued at $10,070,761 over the last ninety days. 33.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of IPGP. BlackRock Inc. raised its stake in IPG Photonics Corporation by 15,820.1% during the 1st quarter. BlackRock Inc. now owns 2,957,324 shares of the semiconductor company’s stock worth $356,949,000 after acquiring an additional 2,938,748 shares in the last quarter. JPMorgan Chase & Co. lifted its position in IPG Photonics Corporation by 50,089.7% in the second quarter. JPMorgan Chase & Co. now owns 326,735 shares of the semiconductor company’s stock valued at $47,409,000 after acquiring an additional 326,084 shares during the last quarter. Vanguard Group Inc. lifted its position in IPG Photonics Corporation by 8.8% in the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock valued at $443,143,000 after acquiring an additional 245,876 shares during the last quarter. Columbia Wanger Asset Management LLC lifted its position in IPG Photonics Corporation by 57.0% in the first quarter. Columbia Wanger Asset Management LLC now owns 629,691 shares of the semiconductor company’s stock valued at $76,004,000 after acquiring an additional 228,701 shares during the last quarter. Finally, BRILLIANCE ASSET MANAGEMENT Ltd purchased a new stake in IPG Photonics Corporation in the second quarter valued at $31,827,000. 59.07% of the stock is currently owned by hedge funds and other institutional investors.

About IPG Photonics Corporation

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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