Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $110.40

Shares of IPG Photonics Co. (NASDAQ:IPGP) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $110.40.

IPGP has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Citigroup cut their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Finally, Benchmark dropped their target price on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st.

Insider Activity

In related news, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the transaction, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other IPG Photonics news, Director Eric Meurice sold 788 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of IPG Photonics stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total value of $772,740.00. Following the transaction, the insider now directly owns 7,200,599 shares in the company, valued at $618,243,430.14. The disclosure for this sale can be found here. Insiders sold a total of 10,773 shares of company stock valued at $927,030 in the last 90 days. Company insiders own 38.00% of the company’s stock.

Institutional Trading of IPG Photonics

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in IPG Photonics by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after buying an additional 11,830 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 789,991 shares of the semiconductor company’s stock worth $85,750,000 after acquiring an additional 8,445 shares during the period. Channing Capital Management LLC purchased a new stake in shares of IPG Photonics during the fourth quarter worth about $70,719,000. Charles Schwab Investment Management Inc. raised its stake in IPG Photonics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company’s stock valued at $42,141,000 after purchasing an additional 5,958 shares during the period. Finally, Norges Bank purchased a new position in IPG Photonics in the 4th quarter worth approximately $36,365,000. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $89.63 on Monday. The firm has a market capitalization of $4.08 billion, a P/E ratio of 23.10 and a beta of 1.01. The stock has a 50 day moving average price of $85.98 and a 200-day moving average price of $90.16. IPG Photonics has a 52-week low of $80.27 and a 52-week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $255.53 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, equities analysts forecast that IPG Photonics will post 2.77 EPS for the current fiscal year.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.