IPG Photonics (IPGP) Trading Down 7.3%

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.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.02). IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The business had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $308.75 million. During the same quarter in the prior year, the firm earned $1.93 earnings per share. IPG Photonics’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, analysts forecast that IPG Photonics Co. will post 5.78 EPS for the current year.

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.

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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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