IPG Photonics (NASDAQ:IPGP) Stock Price Target Cut by Citigroup

IPG Photonics (NASDAQ:IPGP) had its price objective lowered by investment analysts at Citigroup from $137.00 to $135.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Citigroup‘s target price would indicate a potential upside of 90.22% from the company’s current price.

Several other equities analysts have also issued reports on the company. UBS Group restated a “buy” rating on shares of IPG Photonics in a research report on Thursday. Sanford C. Bernstein reiterated an “outperform” rating and set a $92.00 target price on shares of IPG Photonics in a report on Thursday. Needham & Company LLC decreased their target price on IPG Photonics from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, November 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of IPG Photonics in a research note on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, IPG Photonics presently has an average rating of “Moderate Buy” and an average target price of $131.33.

IPG Photonics Stock Up 8.7%

Shares of NASDAQ IPGP traded up $5.66 during mid-day trading on Monday, reaching $70.97. 107,231 shares of the company were exchanged, compared to its average volume of 496,223. The company’s 50 day moving average price is $75.93 and its 200 day moving average price is $100.55. IPG Photonics has a 52 week low of $61.59 and a 52 week high of $155.82. The stock has a market capitalization of $3.02 billion, a PE ratio of 75.45, a PEG ratio of 1.55 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.49 by $0.12. The firm had revenue of $287.50 million for the quarter, compared to analyst estimates of $283.31 million. IPG Photonics had a return on equity of 3.91% and a net margin of 3.65%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. On average, sell-side analysts predict that IPG Photonics will post 1.89 earnings per share for the current year.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, Director John R. Peeler bought 2,710 shares of the stock in a transaction dated Wednesday, August 26th. The stock was purchased at an average cost of $73.58 per share, for a total transaction of $199,401.80. Following the completion of the acquisition, the director owned 20,886 shares of the company’s stock, valued at approximately $1,536,791.88. This trade represents a 14.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eugene A. Scherbakov sold 3,048 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.30, for a total value of $259,994.40. Following the completion of the sale, the director directly owned 45,162 shares in the company, valued at approximately $3,852,318.60. This represents a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 66,458 shares of company stock worth $5,194,276 in the last ninety days. 37.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in shares of IPG Photonics by 2.2% in the 3rd quarter. Royce & Associates LP now owns 164,413 shares of the semiconductor company’s stock worth $12,870,000 after purchasing an additional 3,560 shares during the last quarter. Diversified Trust Co raised its holdings in IPG Photonics by 130.9% in the 3rd quarter. Diversified Trust Co now owns 6,766 shares of the semiconductor company’s stock worth $530,000 after acquiring an additional 3,836 shares during the last quarter. Fifth Third Bancorp lifted its position in IPG Photonics by 30.3% in the 3rd quarter. Fifth Third Bancorp now owns 19,690 shares of the semiconductor company’s stock valued at $1,541,000 after acquiring an additional 4,573 shares in the last quarter. Retirement Systems of Alabama lifted its position in IPG Photonics by 3.3% in the 3rd quarter. Retirement Systems of Alabama now owns 27,201 shares of the semiconductor company’s stock valued at $2,129,000 after acquiring an additional 863 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in IPG Photonics in the 3rd quarter valued at approximately $356,000. Institutional investors own 93.79% of the company’s stock.

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