IPG Photonics Corporation (IPGP) Given Consensus Rating of “Buy” by Brokerages
IPG Photonics Corporation (NASDAQ:IPGP) has received an average rating of “Buy” from the ten analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $150.25.
A number of research firms have weighed in on IPGP. ValuEngine raised shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 price target (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Canaccord Genuity raised their price target on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Benchmark Co. reaffirmed a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $182.00 price objective (up from $160.00) on shares of IPG Photonics Corporation in a report on Tuesday, August 1st.
In other IPG Photonics Corporation news, Director William S. Hurley sold 8,167 shares of IPG Photonics Corporation stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total value of $1,350,985.14. Following the completion of the sale, the director now directly owns 12,672 shares in the company, valued at $2,096,202.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 10,000 shares of IPG Photonics Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the completion of the sale, the chief financial officer now owns 41,100 shares of the company’s stock, valued at $6,693,957. The disclosure for this sale can be found here. Insiders have sold 67,017 shares of company stock worth $10,799,211 over the last ninety days. 33.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IPGP. Denali Advisors LLC acquired a new stake in shares of IPG Photonics Corporation in the second quarter worth $145,000. Chicago Partners Investment Group LLC acquired a new stake in shares of IPG Photonics Corporation in the second quarter worth $152,000. Meadow Creek Investment Management LLC lifted its stake in shares of IPG Photonics Corporation by 3.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,386 shares of the semiconductor company’s stock worth $167,000 after buying an additional 44 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of IPG Photonics Corporation in the first quarter worth $182,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of IPG Photonics Corporation by 10.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 59.07% of the company’s stock.
Shares of IPG Photonics Corporation (NASDAQ IPGP) opened at 187.36 on Friday. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 31.37 and a beta of 1.64. The stock’s 50 day moving average is $170.04 and its 200 day moving average is $143.74. IPG Photonics Corporation has a 52-week low of $80.74 and a 52-week high of $187.73.
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. The business had revenue of $369.37 million for 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 quarterly revenue was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts expect that IPG Photonics Corporation will post $6.62 earnings per share for the current fiscal year.
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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.
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