IPG Photonics (NASDAQ:IPGP) Cut to “Hold” at StockNews.com

StockNews.com cut shares of IPG Photonics (NASDAQ:IPGPFree Report) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other analysts have also weighed in on the stock. Bank of America reduced their price target on shares of IPG Photonics from $107.00 to $93.00 in a research note on Wednesday, October 11th. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research note on Thursday, January 25th. Finally, Stifel Nicolaus upped their price target on shares of IPG Photonics from $120.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $127.00.

Read Our Latest Report on IPG Photonics

IPG Photonics Trading Up 1.8 %

NASDAQ IPGP opened at $102.82 on Thursday. IPG Photonics has a 52 week low of $83.00 and a 52 week high of $141.85. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 56.49, a price-to-earnings-growth ratio of 9.47 and a beta of 1.24. The company has a 50-day moving average price of $102.30 and a two-hundred day moving average price of $100.64.

Insider Activity at IPG Photonics

In related news, Director Eric Meurice sold 629 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total transaction of $62,900.00. Following the completion of the sale, the director now directly owns 16,491 shares of the company’s stock, valued at $1,649,100. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Valentin Gapontsev Trust I sold 8,250 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $95.34, for a total value of $786,555.00. Following the completion of the sale, the insider now owns 7,237,849 shares in the company, valued at approximately $690,056,523.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric Meurice sold 629 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total transaction of $62,900.00. Following the completion of the sale, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,649,100. The disclosure for this sale can be found here. Insiders sold a total of 17,129 shares of company stock valued at $1,670,165 over the last ninety days. Insiders own 37.10% of the company’s stock.

Institutional Investors Weigh In On IPG Photonics

Several hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP purchased a new stake in shares of IPG Photonics in the 4th quarter valued at approximately $416,000. Quest Partners LLC acquired a new position in IPG Photonics in the 4th quarter valued at approximately $406,000. Norges Bank acquired a new position in IPG Photonics in the 4th quarter valued at approximately $36,365,000. ARGA Investment Management LP acquired a new position in IPG Photonics in the 4th quarter valued at approximately $1,067,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd increased its stake in IPG Photonics by 9.9% in the 4th quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 15,851 shares of the semiconductor company’s stock valued at $1,720,000 after buying an additional 1,430 shares during the period. Hedge funds and other institutional investors own 59.07% of the company’s stock.

About IPG Photonics

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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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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