Zacks Investment Research lowered shares of IPG Photonics (NASDAQ:IPGP) from a strong-buy rating to a hold rating in a report released on Tuesday, January 2nd.
According to Zacks, “IPG Photonics is benefiting from strong adoption of fiber lasers over conventional lasers and non-laser cutting and welding equipment. Geographically, the company is gaining in China, Europe, Turkey and Korea with strong demand across a variety of applications and industries. Moreover, the company’s patent portfolio is noticeable. Additionally, its vertically integrated business model is a key differentiator, in our view. This is helping IPG keep costs down. Further, acquisitions like Menara Networks and ILT have helped IPG to expand product portfolio. High barriers to entry and technological lead insulate the company from facing significant competition. However, the company faces significant exposure to the materials processing markets which might significantly impact top-line growth. Additionally, the company’s footprints in international markets make it susceptible to foreign exchange volatility.”
Several other research firms have also issued reports on IPGP. BidaskClub lowered shares of IPG Photonics from a strong-buy rating to a buy rating in a research report on Saturday, December 2nd. ValuEngine lowered shares of IPG Photonics from a buy rating to a hold rating in a report on Friday, December 1st. DA Davidson upped their target price on shares of IPG Photonics to $235.00 and gave the stock a buy rating in a report on Wednesday, November 1st. Needham & Company LLC upped their target price on shares of IPG Photonics from $210.00 to $230.00 and gave the stock a buy rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. Finally, Benchmark reaffirmed a buy rating and set a $230.00 target price on shares of IPG Photonics in a report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $180.33.
Shares of IPG Photonics (NASDAQ IPGP) traded up $3.80 during mid-day trading on Tuesday, reaching $258.33. 446,900 shares of the company’s stock traded hands, compared to its average volume of 723,162. IPG Photonics has a twelve month low of $97.46 and a twelve month high of $260.33. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $13,880.00, a price-to-earnings ratio of 37.99, a price-to-earnings-growth ratio of 2.65 and a beta of 1.71.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. analysts expect that IPG Photonics will post 7.13 earnings per share for the current year.
In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $256.56, for a total value of $2,437,320.00. Following the completion of the sale, the senior vice president now owns 16,957 shares of the company’s stock, valued at approximately $4,350,487.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Igor Samartsev sold 8,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $221.59, for a total transaction of $1,772,720.00. The disclosure for this sale can be found here. In the last three months, insiders sold 37,000 shares of company stock valued at $8,180,245. Corporate insiders own 33.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its holdings in IPG Photonics by 5.2% during the 2nd quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 90 shares during the last quarter. Utah Retirement Systems raised its holdings in IPG Photonics by 1.6% during the 2nd quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock valued at $949,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in IPG Photonics by 6.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock valued at $259,000 after buying an additional 111 shares during the last quarter. Stifel Financial Corp raised its holdings in IPG Photonics by 2.2% during the 2nd quarter. Stifel Financial Corp now owns 5,268 shares of the semiconductor company’s stock valued at $764,000 after buying an additional 114 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in IPG Photonics by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after buying an additional 131 shares during the last quarter. Institutional investors own 56.38% 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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