IPG Photonics (NASDAQ:IPGP) PT Lowered to $190.00 at Raymond James

IPG Photonics (NASDAQ:IPGP) had its price objective reduced by Raymond James from $204.00 to $190.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have a strong-buy rating on the semiconductor company’s stock.

Several other research firms have also commented on IPGP. BidaskClub lowered IPG Photonics from a hold rating to a sell rating in a report on Friday, July 19th. Needham & Company LLC reissued a buy rating and set a $150.00 price objective on shares of IPG Photonics in a research report on Wednesday, July 17th. Benchmark downgraded IPG Photonics from a buy rating to a hold rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Cascend Securities reissued a buy rating and set a $200.00 price objective (up from $180.00) on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, DA Davidson raised their price objective on IPG Photonics to $205.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $171.67.

Shares of NASDAQ IPGP traded down $7.47 during trading on Wednesday, hitting $118.50. 945,618 shares of the company were exchanged, compared to its average volume of 548,517. IPG Photonics has a 12-month low of $104.64 and a 12-month high of $182.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.38 and a quick ratio of 6.55. The company’s fifty day moving average is $141.20. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 3.36 and a beta of 2.13.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The company had revenue of $363.80 million for the quarter, compared to analysts’ expectations of $352.31 million. During the same quarter in the prior year, the firm earned $2.21 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. On average, analysts anticipate that IPG Photonics will post 4.71 EPS for the current year.

In other IPG Photonics news, SVP Trevor Ness sold 166 shares of IPG Photonics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $165.00, for a total value of $27,390.00. Following the completion of the transaction, the senior vice president now directly owns 20,753 shares of the company’s stock, valued at approximately $3,424,245. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.59, for a total value of $1,625,900.00. Following the completion of the transaction, the insider now directly owns 7,555,999 shares of the company’s stock, valued at $1,228,529,877.41. The disclosure for this sale can be found here. Insiders have sold a total of 23,049 shares of company stock valued at $3,583,805 over the last three months. Corporate insiders own 33.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC grew its position in IPG Photonics by 1.3% in the 1st quarter. Lazard Asset Management LLC now owns 828,820 shares of the semiconductor company’s stock valued at $125,797,000 after acquiring an additional 10,637 shares in the last quarter. Malaga Cove Capital LLC grew its position in IPG Photonics by 1.7% in the 1st quarter. Malaga Cove Capital LLC now owns 5,730 shares of the semiconductor company’s stock valued at $870,000 after acquiring an additional 97 shares in the last quarter. Swiss National Bank grew its position in IPG Photonics by 2.0% in the 1st quarter. Swiss National Bank now owns 124,800 shares of the semiconductor company’s stock valued at $18,942,000 after acquiring an additional 2,400 shares in the last quarter. First Hawaiian Bank grew its position in IPG Photonics by 68.3% in the 1st quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 273 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. grew its position in IPG Photonics by 0.3% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 21,922 shares of the semiconductor company’s stock valued at $3,328,000 after acquiring an additional 60 shares in the last quarter. 64.22% of the stock is owned by institutional investors.

About IPG Photonics

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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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