IPG Photonics (NASDAQ:IPGP) Upgraded at BidaskClub

BidaskClub upgraded shares of IPG Photonics (NASDAQ:IPGP) from a sell rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

A number of other research firms have also issued reports on IPGP. ValuEngine raised shares of IPG Photonics from a hold rating to a buy rating in a research report on Thursday, September 5th. Needham & Company LLC set a $148.00 price target on shares of IPG Photonics and gave the stock a buy rating in a research note on Wednesday, July 31st. DA Davidson cut their price objective on IPG Photonics to $175.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Raymond James reduced their price objective on IPG Photonics from $204.00 to $190.00 and set a strong-buy rating on the stock in a research note on Wednesday, July 31st. Finally, Susquehanna Bancshares set a $127.00 price objective on IPG Photonics and gave the company a hold rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. IPG Photonics has an average rating of Buy and an average target price of $171.67.

Shares of IPGP opened at $142.77 on Friday. The stock has a market capitalization of $7.60 billion, a PE ratio of 19.35, a P/E/G ratio of 3.85 and a beta of 2.16. IPG Photonics has a 1 year low of $104.64 and a 1 year high of $182.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.47 and a current ratio of 8.38. The company’s 50-day simple moving average is $125.84 and its 200-day simple moving average is $143.93.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.07). The business had revenue of $363.80 million during the quarter, compared to analysts’ expectations of $352.31 million. IPG Photonics had a net margin of 22.23% and a return on equity of 13.68%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.21 EPS. On average, sell-side analysts predict that IPG Photonics will post 4.71 earnings per share for the current year.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 621 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $145.75, for a total value of $90,510.75. Following the sale, the chief accounting officer now directly owns 7,577 shares of the company’s stock, valued at approximately $1,104,347.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Igor Samartsev sold 800 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.01, for a total transaction of $104,008.00. The disclosure for this sale can be found here. Insiders sold 13,049 shares of company stock valued at $1,957,905 in the last quarter. 33.90% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new stake in shares of IPG Photonics during the 2nd quarter worth about $38,000. Griffin Asset Management Inc. acquired a new stake in IPG Photonics during the second quarter worth approximately $42,000. Manchester Capital Management LLC acquired a new stake in IPG Photonics during the first quarter worth approximately $59,000. Stephens Inc. AR lifted its position in shares of IPG Photonics by 89.4% during the 1st quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock worth $76,000 after buying an additional 235 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of IPG Photonics by 322.5% during the 2nd quarter. Signaturefd LLC now owns 507 shares of the semiconductor company’s stock worth $78,000 after buying an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

About IPG Photonics

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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