Benchmark reiterated their buy rating on shares of IPG Photonics (NASDAQ:IPGP) in a research note released on Monday morning. The firm currently has a $262.00 price objective on the semiconductor company’s stock.
“We hosted meetings between mid-West investors and IPG. The meetings focused on growth expectations, new products, and the competitive landscape.”,” the firm’s analyst wrote.
IPGP has been the subject of several other reports. BidaskClub upgraded shares of IPG Photonics from a buy rating to a strong-buy rating in a research report on Saturday, May 12th. Needham & Company LLC upped their price target on shares of IPG Photonics from $230.00 to $280.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Sanford C. Bernstein began coverage on shares of IPG Photonics in a research report on Wednesday, April 18th. They set an outperform rating and a $294.00 price target for the company. Zacks Investment Research lowered shares of IPG Photonics from a buy rating to a hold rating in a report on Tuesday, April 24th. Finally, ValuEngine upgraded shares of IPG Photonics from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $239.10.
IPG Photonics opened at $248.17 on Monday, according to Marketbeat. The company has a quick ratio of 7.71, a current ratio of 9.54 and a debt-to-equity ratio of 0.02. IPG Photonics has a 12-month low of $136.60 and a 12-month high of $264.11. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 2.41 and a beta of 1.85.
IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.13. IPG Photonics had a net margin of 25.56% and a return on equity of 21.59%. The business had revenue of $359.90 million during the quarter, compared to analyst estimates of $346.35 million. During the same period in the prior year, the business posted $1.38 earnings per share. The company’s revenue was up 25.9% on a year-over-year basis. sell-side analysts predict that IPG Photonics will post 8.48 earnings per share for the current fiscal year.
In related news, CFO Timothy Pv Mammen sold 12,500 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $243.41, for a total value of $3,042,625.00. Following the completion of the transaction, the chief financial officer now directly owns 38,040 shares of the company’s stock, valued at $9,259,316.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Valentin Gapontsev Trust I sold 2,000 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $245.63, for a total transaction of $491,260.00. Following the completion of the transaction, the insider now directly owns 7,565,999 shares of the company’s stock, valued at $1,858,436,334.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,255 shares of company stock valued at $15,725,764. 33.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in IPGP. BlackRock Inc. raised its stake in IPG Photonics by 20.1% in the fourth quarter. BlackRock Inc. now owns 3,874,614 shares of the semiconductor company’s stock worth $829,672,000 after buying an additional 648,145 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in IPG Photonics in the fourth quarter worth about $134,367,000. Guggenheim Capital LLC raised its stake in IPG Photonics by 276.2% in the first quarter. Guggenheim Capital LLC now owns 461,192 shares of the semiconductor company’s stock worth $107,634,000 after buying an additional 338,606 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in IPG Photonics by 170.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 491,489 shares of the semiconductor company’s stock worth $105,243,000 after buying an additional 309,611 shares in the last quarter. Finally, KEYWISE CAPITAL MANAGEMENT Ltd bought a new position in IPG Photonics in the first quarter worth about $64,250,000. 57.16% of the stock is owned by institutional investors.
IPG Photonics Company Profile
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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