IPG Photonics (NASDAQ:IPGP) Rating Lowered to Hold at Benchmark

Benchmark lowered shares of IPG Photonics (NASDAQ:IPGP) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat reports.

IPGP has been the subject of a number of other research reports. Citigroup dropped their price target on IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC reiterated a hold rating on shares of IPG Photonics in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $93.40.

IPG Photonics Stock Down 7.4 %

Shares of IPGP opened at $71.38 on Wednesday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 18.40 and a beta of 1.01. IPG Photonics has a twelve month low of $70.68 and a twelve month high of $111.53. The company has a 50 day moving average of $85.12 and a 200-day moving average of $88.48.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm had revenue of $257.60 million during the quarter, compared to the consensus estimate of $259.31 million. During the same period in the prior year, the business posted $1.31 earnings per share. IPG Photonics’s quarterly revenue was down 24.2% compared to the same quarter last year. On average, sell-side analysts anticipate that IPG Photonics will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at IPG Photonics

In other news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction 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 completion of the transaction, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of IPG Photonics

A number of institutional investors have recently added to or reduced their stakes in IPGP. Norges Bank bought a new position in shares of IPG Photonics during the 4th quarter valued at about $36,365,000. Raymond James & Associates increased its position in shares of IPG Photonics by 1,349.8% during the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after purchasing an additional 41,791 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of IPG Photonics during the 4th quarter valued at about $1,640,000. ARGA Investment Management LP bought a new position in shares of IPG Photonics during the 4th quarter valued at about $1,067,000. Finally, Partnership Wealth Management LLC increased its position in shares of IPG Photonics by 382.7% during the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after purchasing an additional 13,923 shares during the last quarter. 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.