Canaccord Genuity Lowers IPG Photonics (IPGP) Price Target to $138.00

IPG Photonics (NASDAQ:IPGP) had its price target lowered by equities research analysts at Canaccord Genuity from $150.00 to $138.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “hold” rating on the semiconductor company’s stock. Canaccord Genuity’s price target would suggest a potential downside of 7.62% from the company’s current price.

Several other analysts have also recently issued reports on the company. TheStreet cut IPG Photonics from a “b-” rating to a “c+” rating in a report on Friday, December 28th. Bank of America started coverage on IPG Photonics in a report on Friday, October 19th. They set a “neutral” rating on the stock. BidaskClub raised IPG Photonics from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. UBS Group began coverage on IPG Photonics in a report on Friday, November 30th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $157.00 price target (down previously from $160.00) on shares of IPG Photonics in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $190.64.

IPGP stock opened at $149.39 on Wednesday. IPG Photonics has a 1-year low of $104.64 and a 1-year high of $261.77. The company has a quick ratio of 6.81, a current ratio of 8.64 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 2.10 and a beta of 1.80.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, February 12th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.03). The firm had revenue of $330.10 million for the quarter, compared to analysts’ expectations of $314.91 million. IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the company earned $1.86 earnings per share. On average, sell-side analysts expect that IPG Photonics will post 7.41 EPS for the current fiscal year.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 294 shares of the stock in a transaction on Sunday, December 2nd. The stock was sold at an average price of $93.70, for a total value of $27,547.80. Following the sale, the chief accounting officer now owns 6,037 shares in the company, valued at $565,666.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 33.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IPGP. Ipswich Investment Management Co. Inc. purchased a new stake in IPG Photonics in the fourth quarter worth $44,000. ETF Managers Group LLC increased its stake in IPG Photonics by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 553 shares of the semiconductor company’s stock worth $63,000 after purchasing an additional 75 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in IPG Photonics by 205.3% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 638 shares of the semiconductor company’s stock worth $100,000 after purchasing an additional 429 shares during the period. Rehmann Capital Advisory Group increased its stake in IPG Photonics by 15,080.9% in the third quarter. Rehmann Capital Advisory Group now owns 16,699 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 16,589 shares during the period. Finally, Thornburg Investment Management Inc. purchased a new stake in IPG Photonics in the fourth quarter worth $135,000. Institutional investors and hedge funds own 60.29% of the company’s stock.

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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