IPG Photonics Corporation (IPGP) Receives Consensus Rating of “Buy” from Analysts
Shares of IPG Photonics Corporation (NASDAQ:IPGP) have been given an average rating of “Buy” by the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Four research 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 company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $180.33.
IPGP has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and issued a $220.00 price objective on shares of IPG Photonics Corporation in a report on Tuesday, October 10th. Benchmark Co. restated a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 price objective on the stock in a report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective (up from $182.00) on shares of IPG Photonics Corporation in a report on Friday, October 20th. Finally, ValuEngine downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
IPG Photonics Corporation (IPGP) opened at $223.53 on Monday. IPG Photonics Corporation has a fifty-two week low of $93.38 and a fifty-two week high of $224.47. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11,984.76, a price-to-earnings ratio of 32.92, a PEG ratio of 1.64 and a beta of 1.68.
IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. During the same quarter in the previous year, the firm earned $1.29 EPS. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. research analysts expect that IPG Photonics Corporation will post 6.95 earnings per share for the current year.
In other news, SVP Eugene A. Shcherbakov sold 9,500 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the transaction, the senior vice president now directly owns 16,957 shares of the company’s stock, valued at $3,370,882.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Pv Mammen sold 11,600 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $166.98, for a total value of $1,936,968.00. Following the transaction, the chief financial officer now directly owns 42,700 shares of the company’s stock, valued at $7,130,046. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,267 shares of company stock valued at $5,176,458. 33.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in IPGP. JPMorgan Chase & Co. grew its position in shares of IPG Photonics Corporation by 50,089.7% during the second quarter. JPMorgan Chase & Co. now owns 326,735 shares of the semiconductor company’s stock worth $47,409,000 after buying an additional 326,084 shares in the last quarter. Vanguard Group Inc. grew its position in shares of IPG Photonics Corporation by 8.8% during the second quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after buying an additional 245,876 shares in the last quarter. BRILLIANCE ASSET MANAGEMENT Ltd acquired a new position in shares of IPG Photonics Corporation during the second quarter worth about $31,827,000. Ardevora Asset Management LLP acquired a new position in shares of IPG Photonics Corporation during the third quarter worth about $40,084,000. Finally, Prudential Financial Inc. grew its position in shares of IPG Photonics Corporation by 95.2% during the second quarter. Prudential Financial Inc. now owns 281,397 shares of the semiconductor company’s stock worth $40,831,000 after buying an additional 137,210 shares in the last quarter. 58.14% of the stock is owned by institutional investors and hedge funds.
About IPG Photonics Corporation
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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