IPG Photonics (NASDAQ:IPGP) Stock Gets Price Target Reduction from Citigroup

IPG Photonics (NASDAQ:IPGP) had its price target decreased by Citigroup from $137.00 to $135.00 in a report released on Monday,Benzinga reports. Citigroup currently has a buy rating on the semiconductor company’s stock.

IPGP has been the topic of a number of other research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $92.00 target price on shares of IPG Photonics in a report on Thursday, November 5th. UBS Group restated a “buy” rating on shares of IPG Photonics in a research report on Thursday, November 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a research report on Monday, September 21st. Finally, Needham & Company LLC lowered their price target on shares of IPG Photonics from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and an average price target of $131.33.

IPG Photonics Price Performance

IPG Photonics stock opened at $70.81 on Monday. The stock has a market capitalization of $3.01 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. IPG Photonics has a 12-month low of $61.59 and a 12-month high of $155.82. The firm has a 50 day simple moving average of $75.60 and a 200-day simple moving average of $100.31.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. IPG Photonics had a net margin of 3.65% and a return on equity of 3.91%. The company had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts forecast that IPG Photonics will post 1.90 earnings per share for the current fiscal year.

Insider Activity at IPG Photonics

In other IPG Photonics news, Director Eugene A. Scherbakov sold 3,048 shares of IPG Photonics stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $85.30, for a total transaction of $259,994.40. Following the transaction, the director owned 45,162 shares of the company’s stock, valued at $3,852,318.60. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John R. Peeler purchased 2,710 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average price of $73.58 per share, for a total transaction of $199,401.80. Following the completion of the acquisition, the director directly owned 20,886 shares of the company’s stock, valued at $1,536,791.88. This trade represents a 14.91% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 66,458 shares of company stock valued at $5,194,276. Company insiders own 37.50% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

Institutional investors have recently bought and sold shares of the company. MCF Advisors LLC purchased a new position in IPG Photonics during the 2nd quarter valued at about $38,000. Versant Capital Management Inc raised its position in shares of IPG Photonics by 42.2% during the 3rd quarter. Versant Capital Management Inc now owns 495 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 147 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of IPG Photonics by 43.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 552 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 166 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of IPG Photonics by 83.9% during the third quarter. Farther Finance Advisors LLC now owns 524 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 239 shares during the period. Finally, IFP Advisors Inc increased its holdings in IPG Photonics by 206.1% during the 3rd quarter. IFP Advisors Inc now owns 704 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

About IPG Photonics

IPG Photonics develops and manufactures fiber lasers, diode lasers, and optical amplifiers. Its products are used in materials processing applications such as cutting, welding, marking, and engraving, as well as in medical, communications, and other advanced applications. Founded in 1990 by physicist Valentin Gapontsev, the company helped establish fiber lasers as an alternative to other industrial laser technologies. IPG Photonics is headquartered in Oxford, Massachusetts, and serves customers around the world through its international operations and sales network.