IPG Photonics Co. (NASDAQ:IPGP)’s share price dropped 7.3% on Monday . The stock traded as low as $142.27 and last traded at $142.41. Approximately 618,092 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 474,295 shares. The stock had previously closed at $153.69.
IPGP has been the topic of several research analyst reports. Bank of America raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $165.00 price objective on shares of IPG Photonics in a research note on Thursday, February 14th. Cascend Securities initiated coverage on IPG Photonics in a research note on Monday, February 11th. They issued a “buy” rating and a $160.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective (up from $157.00) on shares of IPG Photonics in a research note on Wednesday, February 13th. Finally, DA Davidson boosted their price target on IPG Photonics to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $193.91.
The company has a quick ratio of 6.55, a current ratio of 8.54 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $8.16 billion, a PE ratio of 19.30, a P/E/G ratio of 3.37 and a beta of 1.87.
In other IPG Photonics news, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $172.10, for a total transaction of $137,680.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $162.59, for a total value of $1,625,900.00. Following the sale, the insider now owns 7,555,999 shares in the company, valued at $1,228,529,877.41. The disclosure for this sale can be found here. Insiders have sold a total of 15,825 shares of company stock worth $2,618,936 over the last 90 days. 33.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of IPGP. Ipswich Investment Management Co. Inc. bought a new position in IPG Photonics during the 4th quarter worth $44,000. CSat Investment Advisory L.P. grew its stake in IPG Photonics by 133.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 508 shares of the semiconductor company’s stock worth $58,000 after buying an additional 290 shares during the last quarter. Manchester Capital Management LLC bought a new position in IPG Photonics during the 1st quarter worth $59,000. ETF Managers Group LLC grew its stake in IPG Photonics by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 553 shares of the semiconductor company’s stock worth $63,000 after buying an additional 75 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in IPG Photonics by 89.4% during the 1st quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 235 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.
About IPG Photonics (NASDAQ:IPGP)
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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