IPG Photonics (IPGP) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of IPG Photonics (NASDAQ:IPGP) from a buy rating to a strong-buy rating in a research report report published on Friday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of IPG Photonics from a buy rating to a hold rating in a research note on Tuesday, October 17th. Benchmark reaffirmed a buy rating and issued a $230.00 price target on shares of IPG Photonics in a research note on Wednesday, November 1st. Needham & Company LLC reaffirmed a buy rating and issued a $210.00 price target (up from $182.00) on shares of IPG Photonics in a research note on Friday, October 20th. DA Davidson reaffirmed a buy rating and issued a $220.00 price target on shares of IPG Photonics in a research note on Tuesday, October 10th. Finally, ValuEngine downgraded shares of IPG Photonics from a buy rating to a hold rating in a report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $180.33.

IPG Photonics (IPGP) traded down $1.22 during trading on Friday, reaching $257.62. 430,161 shares of the company’s stock were exchanged, compared to its average volume of 791,840. The firm has a market cap of $13,840.00, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.65 and a beta of 1.71. IPG Photonics has a 52-week low of $95.15 and a 52-week high of $259.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.32. The company had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The business’s revenue for the quarter was up 47.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. research analysts anticipate that IPG Photonics will post 7.13 earnings per share for the current year.

In related news, insider Igor Samartsev sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $221.59, for a total value of $1,772,720.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Trevor Ness sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $208.17, for a total transaction of $2,081,700.00. Following the completion of the sale, the senior vice president now owns 22,906 shares in the company, valued at $4,768,342.02. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock worth $5,742,925 over the last quarter. Insiders own 33.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in shares of IPG Photonics by 5.2% during the second quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock valued at $263,000 after acquiring an additional 90 shares during the period. Utah Retirement Systems raised its holdings in shares of IPG Photonics by 1.6% during the second quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock valued at $949,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of IPG Photonics by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock valued at $259,000 after acquiring an additional 111 shares during the period. Stifel Financial Corp raised its holdings in shares of IPG Photonics by 2.2% during the second quarter. Stifel Financial Corp now owns 5,268 shares of the semiconductor company’s stock valued at $764,000 after acquiring an additional 114 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IPG Photonics by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock valued at $200,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 56.38% of the company’s stock.

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About IPG Photonics

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.

Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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