IPG Photonics Corporation (IPGP) Given Buy Rating at Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of IPG Photonics Corporation (NASDAQ:IPGP) in a research report released on Friday. Needham & Company LLC currently has a $210.00 price objective on the semiconductor company’s stock, up from their previous price objective of $182.00.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of IPG Photonics Corporation from a buy rating to a hold rating in a research report on Tuesday. DA Davidson reissued a buy rating and set a $220.00 target price on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. ValuEngine downgraded shares of IPG Photonics Corporation from a buy rating to a hold rating in a research report on Monday, October 2nd. Stifel Nicolaus reissued a hold rating and set a $170.00 target price (up previously from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Finally, Canaccord Genuity increased their target price on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the company a hold rating in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. IPG Photonics Corporation has a consensus rating of Buy and a consensus price target of $162.25.
IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.85% on Friday, reaching $202.55. 328,955 shares of the company traded hands. IPG Photonics Corporation has a one year low of $83.27 and a one year high of $204.29. The stock has a market capitalization of $10.90 billion, a PE ratio of 33.92 and a beta of 1.68. The firm has a 50 day moving average of $186.57 and a 200-day moving average of $155.24.
IPG Photonics Corporation (NASDAQ:IPGP) last released its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. The business had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, analysts anticipate that IPG Photonics Corporation will post $6.64 EPS for the current year.
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In other IPG Photonics Corporation news, Director William S. Hurley sold 8,167 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the transaction, the director now directly owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the transaction, the senior vice president now owns 16,957 shares in the company, valued at $3,370,882.03. The disclosure for this sale can be found here. Insiders have sold a total of 63,017 shares of company stock worth $10,647,886 over the last 90 days. Company insiders own 33.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of IPGP. Stifel Financial Corp boosted its holdings in shares of IPG Photonics Corporation by 0.4% during the 1st quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock worth $624,000 after buying an additional 23 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of IPG Photonics Corporation by 29.7% during the 1st quarter. United Services Automobile Association now owns 22,250 shares of the semiconductor company’s stock worth $2,686,000 after buying an additional 5,100 shares in the last quarter. OppenheimerFunds Inc. bought a new position in shares of IPG Photonics Corporation during the 1st quarter worth approximately $254,000. Wellington Management Group LLP bought a new position in shares of IPG Photonics Corporation during the 1st quarter worth approximately $8,846,000. Finally, Teachers Advisors LLC boosted its holdings in shares of IPG Photonics Corporation by 6.1% during the 1st quarter. Teachers Advisors LLC now owns 47,681 shares of the semiconductor company’s stock worth $5,755,000 after buying an additional 2,723 shares in the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.
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.
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