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.
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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