IPG Photonics (IPGP) Downgraded by BidaskClub

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IPG Photonics (NASDAQ:IPGP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Other research analysts also recently issued research reports about the stock. DA Davidson dropped their target price on shares of IPG Photonics to $200.00 in a report on Monday, October 8th. Dougherty & Co reaffirmed a “buy” rating on shares of IPG Photonics in a report on Tuesday, August 21st. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $228.00 to $190.00 and set a “buy” rating for the company in a report on Monday, October 8th. Benchmark dropped their target price on shares of IPG Photonics from $222.00 to $170.00 and set a “buy” rating for the company in a report on Monday, October 8th. Finally, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $212.11.

Shares of IPG Photonics stock opened at $124.35 on Friday. The firm has a market capitalization of $7.33 billion, a P/E ratio of 17.13, a PEG ratio of 2.01 and a beta of 1.76. The company has a quick ratio of 6.81, a current ratio of 8.64 and a debt-to-equity ratio of 0.02. IPG Photonics has a fifty-two week low of $107.59 and a fifty-two week high of $264.11.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 30th. The semiconductor company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.01). The firm had revenue of $356.35 million during the quarter, compared to the consensus estimate of $355.48 million. IPG Photonics had a return on equity of 20.30% and a net margin of 25.58%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 EPS. On average, sell-side analysts forecast that IPG Photonics will post 7.41 EPS for the current year.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 294 shares of the business’s stock in a transaction on Sunday, December 2nd. The shares were sold at an average price of $93.70, for a total value of $27,547.80. Following the sale, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $565,666.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas J. Burgomaster sold 637 shares of the business’s stock in a transaction on Sunday, November 11th. The stock was sold at an average price of $90.85, for a total transaction of $57,871.45. Following the completion of the sale, the chief accounting officer now owns 6,037 shares in the company, valued at approximately $548,461.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,131 shares of company stock worth $103,915. Corporate insiders own 33.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in IPGP. Mackenzie Financial Corp lifted its stake in IPG Photonics by 307.3% in the 3rd quarter. Mackenzie Financial Corp now owns 864,514 shares of the semiconductor company’s stock worth $134,925,000 after purchasing an additional 652,276 shares in the last quarter. FMR LLC lifted its stake in IPG Photonics by 77.9% in the 3rd quarter. FMR LLC now owns 743,049 shares of the semiconductor company’s stock worth $115,967,000 after purchasing an additional 325,425 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in IPG Photonics by 67.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 741,301 shares of the semiconductor company’s stock worth $115,695,000 after purchasing an additional 297,295 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new stake in IPG Photonics in the 2nd quarter worth $58,469,000. Finally, United Services Automobile Association lifted its stake in IPG Photonics by 396.1% in the 2nd quarter. United Services Automobile Association now owns 323,519 shares of the semiconductor company’s stock worth $13,847,000 after purchasing an additional 258,306 shares in the last quarter. Institutional investors and hedge funds own 59.16% 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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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