IPG Photonics Corporation (NASDAQ:IPGP) Stock Rating Lowered by Zacks Investment Research

IPG Photonics Corporation (NASDAQ:IPGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, October 17th.

According to Zacks, “IPG is a pioneer in the fiber lasers technology market. The company has a dominant position in the core material processing market owing to its expertise in handling fiber lasers, which are more reliable, efficient, robust, compact and easier to operate than conventional lasers. Moreover, the company’s patent portfolio is noticeable. Additionally, its vertically integrated business model is a key differentiator, in our view. This is helping it to keep costs down. Further, acquisitions like Menara Networks and ILT have helped IPG to expand product portfolio. IPG has outperformed the industry on a year-to-date basis. Estimates have been stable lately ahead of the company's Q3 earnings release. The company has positive record of earnings surprises in recent quarters. However, unfavorable foreign exchange and customer concentration risk are headwinds.”

A number of other analysts have also recently commented on IPGP. Needham & Company LLC restated a “buy” rating and set a $182.00 price target (up from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Benchmark Co. restated a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Canaccord Genuity upped their target price on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus upped their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Friday, June 30th. Finally, ValuEngine lowered shares of IPG Photonics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics Corporation has a consensus rating of “Buy” and an average target price of $180.33.

Shares of IPG Photonics Corporation (NASDAQ IPGP) traded up $5.37 during trading hours on Tuesday, hitting $219.23. 321,216 shares of the stock were exchanged, compared to its average volume of 454,101. The firm has a market capitalization of $11,462.76, a price-to-earnings ratio of 31.50, a PEG ratio of 1.56 and a beta of 1.68. The company has a current ratio of 9.02, a quick ratio of 7.46 and a debt-to-equity ratio of 0.02. IPG Photonics Corporation has a 52 week low of $92.88 and a 52 week high of $219.64.

IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million for the quarter, compared to analysts’ expectations of $367.27 million. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. IPG Photonics Corporation’s revenue was up 47.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. research analysts anticipate that IPG Photonics Corporation will post 6.95 earnings per share for the current fiscal year.

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In other news, CFO Timothy Pv Mammen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total value of $1,628,700.00. Following the completion of the sale, the chief financial officer now directly owns 41,100 shares of the company’s stock, valued at approximately $6,693,957. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now directly owns 12,672 shares of the company’s stock, valued at $2,096,202.24. The disclosure for this sale can be found here. Insiders sold a total of 51,017 shares of company stock valued at $8,724,286 in the last ninety days. 33.80% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Stifel Financial Corp lifted its position in shares of IPG Photonics Corporation by 0.4% in the 1st quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock worth $624,000 after purchasing an additional 23 shares during the period. Teacher Retirement System of Texas lifted its position in shares of IPG Photonics Corporation by 1.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock worth $437,000 after purchasing an additional 33 shares during the period. Advisory Services Network LLC lifted its position in shares of IPG Photonics Corporation by 5.2% in the 2nd quarter. Advisory Services Network LLC now owns 1,813 shares of the semiconductor company’s stock worth $263,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems lifted its position in shares of IPG Photonics Corporation by 1.6% in the 2nd quarter. Utah Retirement Systems now owns 6,540 shares of the semiconductor company’s stock worth $949,000 after purchasing an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of IPG Photonics Corporation by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock worth $259,000 after purchasing an additional 111 shares during the period. 58.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Corporation Company Profile

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.

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Analyst Recommendations for IPG Photonics Corporation (NASDAQ:IPGP)

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