IPG Photonics Co. (NASDAQ:IPGP) was the target of unusually large options trading on Monday. Stock investors purchased 942 call options on the company. This is an increase of approximately 871% compared to the typical daily volume of 97 call options.
A number of brokerages recently issued reports on IPGP. BidaskClub raised IPG Photonics from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Bank of America raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $200.00 price target on the stock in a report on Monday. Needham & Company LLC reissued a “buy” rating and set a $170.00 price objective (up from $157.00) on shares of IPG Photonics in a report on Wednesday, February 13th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 13th. Finally, TheStreet upgraded IPG Photonics from a “c+” rating to a “b-” rating in a research report on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. IPG Photonics has a consensus rating of “Buy” and an average target price of $182.36.
NASDAQ:IPGP traded up $2.94 during trading hours on Wednesday, reaching $181.63. 406,301 shares of the company traded hands, compared to its average volume of 444,124. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 4.12 and a beta of 1.84. IPG Photonics has a 1 year low of $104.64 and a 1 year high of $261.77. The company has a current ratio of 7.35, a quick ratio of 5.70 and a debt-to-equity ratio of 0.02.
Several hedge funds have recently bought and sold shares of the company. Parnassus Investments CA raised its stake in shares of IPG Photonics by 100.0% in the fourth quarter. Parnassus Investments CA now owns 1,000,000 shares of the semiconductor company’s stock worth $113,290,000 after purchasing an additional 500,000 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of IPG Photonics by 307.3% in the third 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 during the last quarter. FMR LLC raised its stake in shares of IPG Photonics by 77.9% in the third 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 during the last quarter. Eagle Asset Management Inc. raised its stake in shares of IPG Photonics by 4.0% in the fourth quarter. Eagle Asset Management Inc. now owns 719,444 shares of the semiconductor company’s stock worth $81,505,000 after purchasing an additional 27,622 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of IPG Photonics in the fourth quarter worth $68,325,000. Hedge funds and other institutional investors own 67.33% of the company’s stock.
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IPG Photonics Company Profile
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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