IPG Photonics (NASDAQ:IPGP) had its target price hoisted by research analysts at Needham & Company LLC from $230.00 to $280.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 7.80% from the company’s previous close.
Other equities analysts also recently issued reports about the company. DA Davidson raised their price objective on IPG Photonics to $235.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Benchmark restated a “buy” rating and set a $230.00 price objective on shares of IPG Photonics in a research report on Wednesday, November 1st. BidaskClub lowered IPG Photonics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Zacks Investment Research lowered IPG Photonics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $185.89.
IPG Photonics (IPGP) traded up $2.10 during trading on Wednesday, hitting $259.74. The stock had a trading volume of 224,759 shares, compared to its average volume of 514,135. IPG Photonics has a twelve month low of $103.45 and a twelve month high of $264.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. The stock has a market capitalization of $13,980.00, a PE ratio of 38.20, a PEG ratio of 2.82 and a beta of 1.71.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.79 by $0.32. The business had revenue of $392.62 million during the quarter, compared to analysts’ expectations of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.29 earnings per share. sell-side analysts expect that IPG Photonics will post 7.13 EPS for the current fiscal year.
In other news, SVP Trevor Ness sold 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $208.17, for a total value of $2,081,700.00. Following the sale, the senior vice president now owns 22,906 shares of the company’s stock, valued at approximately $4,768,342.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Pv Mammen sold 2,500 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.53, for a total value of $653,825.00. Following the completion of the sale, the chief financial officer now directly owns 33,600 shares in the company, valued at approximately $8,787,408. The disclosure for this sale can be found here. Insiders have sold a total of 44,500 shares of company stock worth $10,717,320 in the last ninety days. 33.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of IPG Photonics by 8.8% in the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after buying an additional 245,876 shares during the last quarter. Harding Loevner LP raised its holdings in IPG Photonics by 86.6% in the 3rd quarter. Harding Loevner LP now owns 2,825,425 shares of the semiconductor company’s stock valued at $167,055,000 after acquiring an additional 1,311,384 shares in the last quarter. State Street Corp raised its holdings in IPG Photonics by 2.1% in the 2nd quarter. State Street Corp now owns 955,383 shares of the semiconductor company’s stock valued at $138,633,000 after acquiring an additional 19,973 shares in the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd raised its holdings in IPG Photonics by 14.2% in the 4th quarter. BRILLIANCE ASSET MANAGEMENT Ltd now owns 607,405 shares of the semiconductor company’s stock valued at $130,064,000 after acquiring an additional 75,594 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in IPG Photonics by 41.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 462,817 shares of the semiconductor company’s stock valued at $85,010,000 after acquiring an additional 136,082 shares in the last quarter. Hedge funds and other institutional investors own 56.49% 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.