IPG Photonics (NASDAQ:IPGP) Sets New 12-Month Low at $79.80

IPG Photonics Co. (NASDAQ:IPGP) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $79.80 and last traded at $88.47, with a volume of 37445 shares trading hands. The stock had previously closed at $87.61.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Citigroup cut their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Benchmark cut their price target on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.40.

IPG Photonics Stock Down 5.4 %

The company’s 50 day moving average is $85.86 and its 200 day moving average is $88.94. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 21.28 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was down 27.4% compared to the same quarter last year. On average, analysts expect that IPG Photonics Co. will post 2.77 EPS for the current year.

Insider Activity at IPG Photonics

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of IPG Photonics

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates grew its holdings in shares of IPG Photonics by 1,349.8% during the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after purchasing an additional 41,791 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of IPG Photonics by 1,168.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock worth $4,666,000 after buying an additional 39,599 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of IPG Photonics by 20.5% during the fourth quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock worth $482,000 after buying an additional 755 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of IPG Photonics in the 4th quarter valued at $304,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of IPG Photonics by 18.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 143 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

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.