IPG Photonics Corporation (NASDAQ:IPGP)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research note issued on Tuesday. They presently have a $220.00 price target on the semiconductor company’s stock. DA Davidson’s target price points to a potential upside of 13.03% from the company’s current price. DA Davidson also issued estimates for IPG Photonics Corporation’s Q1 2019 earnings at $1.68 EPS, Q2 2019 earnings at $1.99 EPS, Q3 2019 earnings at $2.34 EPS and FY2019 earnings at $8.00 EPS.
Several other analysts have also weighed in on IPGP. Canaccord Genuity reiterated a “buy” rating and issued a $152.00 price objective (up previously from $138.00) on shares of IPG Photonics Corporation in a research note on Friday, June 16th. Needham & Company LLC lifted their price objective on shares of IPG Photonics Corporation from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Stifel Nicolaus lifted their price objective on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Benchmark Co. reiterated a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $158.75.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.28. The firm had revenue of $369.37 million for the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The company’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS.
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In other IPG Photonics Corporation news, SVP Alexander Ovtchinnikov sold 12,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the completion of the sale, the senior vice president now owns 83,595 shares in the company, valued at approximately $13,400,278.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William S. Hurley sold 8,167 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the sale, the director now owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. Insiders sold a total of 62,017 shares of company stock valued at $10,070,761 in the last quarter. 33.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in IPGP. UBS Asset Management Americas Inc. increased its stake in IPG Photonics Corporation by 2.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 157,615 shares of the semiconductor company’s stock valued at $19,024,000 after purchasing an additional 3,650 shares in the last quarter. Karp Capital Management Corp bought a new stake in IPG Photonics Corporation during the 1st quarter valued at $807,000. Stifel Financial Corp increased its stake in IPG Photonics Corporation by 0.4% during the 1st quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 23 shares in the last quarter. BB&T Securities LLC bought a new stake in IPG Photonics Corporation during the 1st quarter valued at $273,000. Finally, United Services Automobile Association increased its stake in IPG Photonics Corporation by 29.7% during the 1st quarter. United Services Automobile Association now owns 22,250 shares of the semiconductor company’s stock valued at $2,686,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 59.07% of the company’s stock.
About IPG Photonics Corporation
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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