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.
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.
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