IPG Photonics (NASDAQ:IPGP) Sets New 12-Month Low at $79.80

IPG Photonics Co. (NASDAQ:IPGP) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $79.80 and last traded at $88.47, with a volume of 37445 shares. The stock had previously closed at $87.61.

Analyst Upgrades and Downgrades

IPGP has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Benchmark reduced their price target on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Citigroup dropped their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and a consensus target price of $110.40.

IPG Photonics Price Performance

The firm has a 50-day moving average of $85.86 and a 200-day moving average of $88.94. The stock has a market cap of $3.78 billion, a PE ratio of 21.28 and a beta of 1.01.

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

Insider Activity at IPG Photonics

In other news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the sale, the director now directly owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 38.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPGP. Innealta Capital LLC purchased a new position in shares of IPG Photonics in the 2nd quarter worth approximately $85,000. Bank of New York Mellon Corp raised its stake in shares of IPG Photonics by 26.4% in the second quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock valued at $25,580,000 after acquiring an additional 63,369 shares during the period. Donald L. Hagan LLC lifted its holdings in shares of IPG Photonics by 19.3% in the 2nd quarter. Donald L. Hagan LLC now owns 3,484 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 564 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in IPG Photonics by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock valued at $77,375,000 after purchasing an additional 11,548 shares during the last quarter. Finally, Swedbank AB purchased a new stake in IPG Photonics in the 1st quarter worth about $2,687,000. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Company Profile

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.