ValuEngine Downgrades IPG Photonics (IPGP) to Hold

IPG Photonics (NASDAQ:IPGP) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of IPG Photonics in a report on Wednesday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price (up previously from $182.00) on shares of IPG Photonics in a report on Friday, October 20th. Stifel Nicolaus restated a “hold” rating and set a $170.00 price objective (up previously from $165.00) on shares of IPG Photonics in a research note on Friday, September 1st. Finally, DA Davidson restated a “buy” rating and set a $220.00 price objective on shares of IPG Photonics in a research note on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $180.33.

Shares of IPG Photonics (IPGP) opened at $224.13 on Friday. IPG Photonics has a 1 year low of $93.38 and a 1 year high of $248.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.46 and a current ratio of 9.02. The firm has a market capitalization of $12,016.96, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, beating the consensus estimate of $1.79 by $0.32. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million during the quarter, compared to analysts’ expectations of $367.27 million. During the same period last year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. equities analysts predict that IPG Photonics will post 7.01 earnings per share for the current fiscal year.

In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $198.79, for a total value of $1,888,505.00. Following the transaction, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 33.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. AXA lifted its stake in shares of IPG Photonics by 31.0% in the third quarter. AXA now owns 400,774 shares of the semiconductor company’s stock valued at $74,167,000 after buying an additional 94,837 shares during the period. Public Employees Retirement System of Ohio raised its position in IPG Photonics by 84.2% in the third quarter. Public Employees Retirement System of Ohio now owns 30,250 shares of the semiconductor company’s stock worth $5,598,000 after purchasing an additional 13,830 shares in the last quarter. Moors & Cabot Inc. acquired a new position in IPG Photonics in the third quarter worth about $1,374,000. Belpointe Asset Management LLC acquired a new position in IPG Photonics in the third quarter worth about $1,114,000. Finally, Insight Capital Research & Management Inc. acquired a new stake in shares of IPG Photonics during the third quarter worth approximately $2,197,000. Institutional investors own 59.99% of the company’s stock.

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About IPG Photonics

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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