IPG Photonics (NASDAQ:IPGP) PT Lowered to $146.00

IPG Photonics (NASDAQ:IPGPGet Rating) had its price target dropped by investment analysts at Citigroup from $157.00 to $146.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Citigroup’s price target suggests a potential upside of 41.05% from the company’s current price.

Separately, Benchmark cut their price target on shares of IPG Photonics from $183.00 to $165.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.38.

IPG Photonics Price Performance

Shares of NASDAQ:IPGP opened at $103.51 on Wednesday. The company has a current ratio of 6.87, a quick ratio of 6.42 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $97.52 and its two-hundred day simple moving average is $110.93. IPG Photonics has a 1-year low of $82.68 and a 1-year high of $187.22. The stock has a market cap of $5.37 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 5.11 and a beta of 1.36.

IPG Photonics (NASDAQ:IPGPGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). IPG Photonics had a net margin of 17.91% and a return on equity of 10.31%. The company had revenue of $377.02 million for the quarter, compared to the consensus estimate of $373.26 million. During the same quarter last year, the business posted $1.33 earnings per share. IPG Photonics’s revenue was up 1.4% on a year-over-year basis. As a group, analysts forecast that IPG Photonics will post 4.71 EPS for the current fiscal year.

Insider Activity at IPG Photonics

In other news, CFO Timothy Pv Mammen acquired 3,000 shares of the stock in a transaction that occurred on Thursday, June 16th. The shares were acquired at an average cost of $83.54 per share, for a total transaction of $250,620.00. Following the purchase, the chief financial officer now owns 53,493 shares of the company’s stock, valued at approximately $4,468,805.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Securian Asset Management Inc. raised its stake in IPG Photonics by 16.9% in the 2nd quarter. Securian Asset Management Inc. now owns 3,168 shares of the semiconductor company’s stock valued at $298,000 after acquiring an additional 459 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of IPG Photonics by 309.6% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,817 shares of the semiconductor company’s stock valued at $548,000 after buying an additional 4,397 shares during the period. Aviva PLC increased its position in shares of IPG Photonics by 0.6% during the second quarter. Aviva PLC now owns 25,825 shares of the semiconductor company’s stock valued at $2,431,000 after buying an additional 145 shares during the period. Van ECK Associates Corp bought a new stake in shares of IPG Photonics during the second quarter valued at about $90,000. Finally, Nisa Investment Advisors LLC increased its position in shares of IPG Photonics by 46.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,750 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 1,190 shares during the period. 66.65% of the stock is currently owned by institutional investors.

IPG Photonics Company Profile

(Get Rating)

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. The company's 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.

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