IPG Photonics (NASDAQ:IPGP) Price Target Cut to $106.00 by Analysts at Benchmark

IPG Photonics (NASDAQ:IPGP) had its price objective trimmed by Benchmark from $116.00 to $106.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued research reports about the stock. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Needham & Company LLC reaffirmed a hold rating on shares of IPG Photonics in a report on Wednesday. Stifel Nicolaus decreased their price objective on IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, February 14th. Citigroup lowered IPG Photonics from a neutral rating to a sell rating and cut their target price for the company from $111.00 to $74.00 in a research note on Thursday, February 15th. Finally, StockNews.com downgraded shares of IPG Photonics from a buy rating to a hold rating in a research note on Saturday, February 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $111.60.

IPG Photonics Price Performance

IPG Photonics stock opened at $83.55 on Wednesday. The firm has a fifty day moving average price of $87.66 and a two-hundred day moving average price of $94.08. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 16.66 and a beta of 1.17. IPG Photonics has a fifty-two week low of $80.33 and a fifty-two week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The company’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, sell-side analysts expect that IPG Photonics will post 3.23 earnings per share for the current year.

IPG Photonics announced that its board has authorized a stock repurchase plan on Tuesday, February 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the sale, the insider now directly owns 7,219,599 shares in the company, valued at $618,575,242.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares of the company’s stock, valued at $1,472,646.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the completion of the transaction, the insider now directly owns 7,219,599 shares in the company, valued at $618,575,242.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,788 shares of company stock valued at $2,595,508. Corporate insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On IPG Photonics

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of IPG Photonics by 123.8% during the third quarter. CWM LLC now owns 837 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 463 shares during the last quarter. Raymond James & Associates bought a new stake in IPG Photonics during the 3rd quarter worth about $314,000. Ardevora Asset Management LLP increased its position in IPG Photonics by 19.6% in the 3rd quarter. Ardevora Asset Management LLP now owns 172,038 shares of the semiconductor company’s stock valued at $17,469,000 after acquiring an additional 28,238 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of IPG Photonics by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 3,264 shares of the semiconductor company’s stock worth $331,000 after acquiring an additional 150 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IPG Photonics by 7.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,417 shares of the semiconductor company’s stock worth $652,000 after purchasing an additional 462 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

About IPG Photonics

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.