IPG Photonics Corporation (NASDAQ:IPGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “IPG is a pioneer in the fiber lasers technology market. The company has a dominant position in the core material processing market owing to its expertise in handling fiber lasers, which are more reliable, efficient, robust, compact and easier to operate than conventional lasers. Moreover, the company’s patent portfolio is noticeable. Additionally, its vertically integrated business model is a key differentiator, in our view. This is helping it to keep costs down. Further, acquisitions like Menara Networks and ILT have helped IPG to expand product portfolio. IPG has outperformed the industry on a year-to-date basis. Estimates have been stable lately ahead of the company's Q3 earnings release. The company has positive record of earnings surprises in recent quarters. However, unfavorable foreign exchange and customer concentration risk are headwinds.”

A number of other research analysts also recently commented on IPGP. DA Davidson reaffirmed a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research report on Tuesday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $182.00 target price (up from $160.00) on shares of IPG Photonics Corporation in a research report on Tuesday, August 1st. Benchmark Co. reaffirmed a “buy” rating and issued a $180.00 target price on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. 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. Finally, Stifel Nicolaus increased their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $158.75.

IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.66% during trading on Tuesday, reaching $200.00. 323,270 shares of the company’s stock traded hands. The company has a market cap of $10.77 billion, a PE ratio of 33.49 and a beta of 1.68. The company has a 50 day moving average price of $182.69 and a 200-day moving average price of $152.80. IPG Photonics Corporation has a 12-month low of $81.90 and a 12-month high of $200.43.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.28. The firm 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 revenue was up 46.1% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. On average, equities research analysts forecast that IPG Photonics Corporation will post $6.64 EPS for the current fiscal year.

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In other IPG Photonics Corporation news, SVP Alexander Ovtchinnikov sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the transaction, the senior vice president now directly owns 83,595 shares of the company’s stock, valued at approximately $13,400,278.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Pv Mammen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the transaction, the chief financial officer now directly owns 41,100 shares in the company, valued at $6,693,957. The disclosure for this sale can be found here. Insiders have sold a total of 53,517 shares of company stock worth $8,759,381 over the last three months. 33.80% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Morgan Stanley grew its position in IPG Photonics Corporation by 31.8% during the 1st quarter. Morgan Stanley now owns 247,448 shares of the semiconductor company’s stock worth $29,867,000 after purchasing an additional 59,731 shares during the last quarter. Eagle Asset Management Inc. grew its position in IPG Photonics Corporation by 5.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after purchasing an additional 37,918 shares during the last quarter. Legal & General Group Plc grew its position in IPG Photonics Corporation by 131.0% during the 1st quarter. Legal & General Group Plc now owns 22,963 shares of the semiconductor company’s stock worth $2,772,000 after purchasing an additional 13,023 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in IPG Photonics Corporation by 81.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the semiconductor company’s stock worth $1,103,000 after purchasing an additional 3,400 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in IPG Photonics Corporation during the 1st quarter worth $549,000. 59.08% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for IPG Photonics Corporation (NASDAQ:IPGP)

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