Benchmark Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $106.00

IPG Photonics (NASDAQ:IPGP) had its price objective decreased by Benchmark from $116.00 to $106.00 in a research report report published on Wednesday, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on IPGP. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Needham & Company LLC reaffirmed a hold rating on shares of IPG Photonics in a research report on Wednesday. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, February 14th. Citigroup downgraded shares of IPG Photonics from a neutral rating to a sell rating and reduced their target price for the stock from $111.00 to $74.00 in a report on Thursday, February 15th. Finally, StockNews.com cut shares of IPG Photonics from a buy rating to a hold rating in a report on Saturday, February 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $110.40.

IPG Photonics Trading Up 0.1 %

NASDAQ IPGP opened at $86.76 on Wednesday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 19.80 and a beta of 1.17. The firm’s fifty day moving average price is $87.69 and its two-hundred day moving average price is $93.95. IPG Photonics has a 1 year low of $80.33 and a 1 year high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. During the same period in the prior year, the firm earned $1.26 EPS. IPG Photonics’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, research analysts anticipate that IPG Photonics will post 2.81 EPS for the current fiscal year.

IPG Photonics declared that its board has approved a share repurchase program on Tuesday, February 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics 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 transaction, the insider now directly owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the sale, the director now directly owns 16,491 shares in the company, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s 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 transaction, the insider now owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The disclosure for this sale can be found here. Insiders sold 29,788 shares of company stock valued at $2,595,508 in the last quarter. Company insiders own 37.10% of the company’s stock.

Institutional Trading of IPG Photonics

A number of hedge funds and other institutional investors have recently modified their holdings of IPGP. VisionPoint Advisory Group LLC raised its holdings in IPG Photonics by 127.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of IPG Photonics during the fourth quarter worth $40,000. Disciplined Equity Management Inc. bought a new position in IPG Photonics during the 4th quarter worth $43,000. AM Squared Ltd lifted its holdings in IPG Photonics by 200.0% during the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after buying an additional 400 shares during the period. Finally, Assetmark Inc. increased its stake in shares of IPG Photonics by 39.4% in the third quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 173 shares during the period. 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.