IPG Photonics Corporation (NASDAQ:IPGP) had its target price lifted by analysts at Needham & Company LLC from $210.00 to $230.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 8.03% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other research firms have also recently weighed in on IPGP. Canaccord Genuity cut shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, July 18th. Benchmark Co. reiterated a “buy” rating and issued a $180.00 target price on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 target price (up from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. ValuEngine upgraded shares of IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, DA Davidson reiterated a “buy” rating and issued a $220.00 target price on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. Four 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $178.67.
IPG Photonics Corporation (IPGP) opened at 212.91 on Wednesday. The stock’s 50 day moving average is $192.93 and its 200-day moving average is $159.99. IPG Photonics Corporation has a 1-year low of $92.88 and a 1-year high of $219.64. The firm has a market capitalization of $11.46 billion, a P/E ratio of 35.65 and a beta of 1.68.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The business had revenue of $392.62 million for the quarter, compared to analysts’ expectations of $367.27 million. During the same period in the previous year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 47.6% compared to the same quarter last year. Analysts forecast that IPG Photonics Corporation will post $6.66 EPS for the current year.
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In other news, SVP Alexander Ovtchinnikov sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total value of $1,923,600.00. Following the sale, the senior vice president now owns 83,595 shares of the company’s stock, valued at $13,400,278.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William S. Hurley sold 8,167 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,672 shares in the company, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. In the last three months, insiders sold 63,017 shares of company stock worth $10,647,886. Insiders own 33.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IPGP. BlackRock Inc. increased its holdings in IPG Photonics Corporation by 15,820.1% during the 1st quarter. BlackRock Inc. now owns 2,957,324 shares of the semiconductor company’s stock worth $356,949,000 after acquiring an additional 2,938,748 shares during the period. JPMorgan Chase & Co. increased its holdings in IPG Photonics Corporation by 50,089.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 326,735 shares of the semiconductor company’s stock worth $47,409,000 after acquiring an additional 326,084 shares during the period. Vanguard Group Inc. increased its holdings in IPG Photonics Corporation by 8.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after acquiring an additional 245,876 shares during the period. BRILLIANCE ASSET MANAGEMENT Ltd bought a new stake in IPG Photonics Corporation during the 2nd quarter worth approximately $31,827,000. Finally, Prudential Financial Inc. increased its holdings in IPG Photonics Corporation by 95.2% during the 2nd quarter. Prudential Financial Inc. now owns 281,397 shares of the semiconductor company’s stock worth $40,831,000 after acquiring an additional 137,210 shares during the period. 58.94% of the stock is currently owned by institutional investors and hedge funds.
IPG Photonics Corporation Company Profile
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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