IPG Photonics Co. (NASDAQ:IPGP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $93.40.

A number of brokerages have recently issued reports on IPGP. Citigroup lowered their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Raymond James cut their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st.

Insider Buying and Selling

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the business’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 in the company, valued at approximately $367,978.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 38.00% of the stock is owned by company insiders.

Institutional Trading of IPG Photonics

Several institutional investors and hedge funds have recently bought and sold shares of IPGP. Norges Bank acquired a new stake in shares of IPG Photonics during the fourth quarter valued at about $36,365,000. Raymond James & Associates boosted its position 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 worth $4,872,000 after purchasing an additional 41,791 shares during the period. Evoke Wealth LLC acquired a new stake in IPG Photonics in the 4th quarter valued at approximately $1,640,000. ARGA Investment Management LP purchased a new stake in IPG Photonics in the fourth quarter valued at approximately $1,067,000. Finally, Partnership Wealth Management LLC lifted its stake in IPG Photonics by 382.7% during the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after purchasing an additional 13,923 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

IPG Photonics Price Performance

Shares of NASDAQ:IPGP opened at $67.79 on Friday. The business’s 50 day moving average price is $84.44 and its 200-day moving average price is $87.90. IPG Photonics has a 1 year low of $66.54 and a 1 year high of $111.29. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 17.47 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The company had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 earnings per share. On average, sell-side analysts expect that IPG Photonics will post 1.83 earnings per share for the current year.

About IPG Photonics

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.