IPG Photonics (IPGP) Trading 6.8% Higher

IPG Photonics Corporation (NASDAQ:IPGP)’s share price traded up 6.8% during mid-day trading on Monday . The stock traded as high as $259.88 and last traded at $258.84. 1,300,622 shares were traded during trading, an increase of 64% from the average session volume of 791,784 shares. The stock had previously closed at $242.34.

Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of IPG Photonics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. DA Davidson upped their price objective on shares of IPG Photonics to $235.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Needham & Company LLC upped their price objective on shares of IPG Photonics from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. They noted that the move was a valuation call. ValuEngine downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of IPG Photonics in a research note on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $180.33.

The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $13,640.00, a P/E ratio of 37.68, 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 for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million for the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. IPG Photonics’s revenue was up 47.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. sell-side analysts expect that IPG Photonics Corporation will post 7.13 EPS for the current year.

In other IPG Photonics news, SVP Trevor Ness sold 10,000 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the transaction, the senior vice president now owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Igor Samartsev sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 ninety days, insiders have sold 27,500 shares of company stock worth $5,742,925. 33.80% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in IPG Photonics during the second quarter worth approximately $352,000. Prudential PLC raised its stake in shares of IPG Photonics by 12.3% in the 2nd quarter. Prudential PLC now owns 43,000 shares of the semiconductor company’s stock valued at $6,239,000 after acquiring an additional 4,700 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of IPG Photonics in the 3rd quarter valued at $8,013,000. Alps Advisors Inc. raised its stake in shares of IPG Photonics by 14.4% in the 3rd quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after acquiring an additional 582 shares during the period. Finally, Westpac Banking Corp purchased a new position in shares of IPG Photonics in the 3rd quarter valued at $6,274,000. 56.38% of the stock is currently owned by institutional investors.

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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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