IPG Photonics Corporation (IPGP) Sets New 1-Year High at $168.98
IPG Photonics Corporation (NASDAQ:IPGP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $168.98 and last traded at $169.00, with a volume of 158,361 shares. The stock had previously closed at $167.81.
IPGP has been the subject of several research reports. Zacks Investment Research raised IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Thursday, May 4th. Dougherty & Co raised their price target on IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Canaccord Genuity downgraded IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $146.00 price target (up previously from $130.00) on shares of IPG Photonics Corporation in a research report on Wednesday, May 3rd. Finally, Benchmark Co. reissued a “buy” rating and set a $180.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $141.00.
The firm has a 50-day moving average of $154.52 and a 200-day moving average of $133.64. The company has a market capitalization of $9.07 billion, a P/E ratio of 28.23 and a beta of 1.70.
IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The company had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 46.1% compared to the same quarter last year. On average, analysts forecast that IPG Photonics Corporation will post $6.62 EPS for the current fiscal year.
In other news, Director Thomas J. Seifert sold 2,849 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $141.47, for a total transaction of $403,048.03. Following the completion of the sale, the director now owns 9,180 shares in the company, valued at approximately $1,298,694.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 10,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $162.87, for a total value of $1,628,700.00. Following the sale, the chief financial officer now owns 41,100 shares of the company’s stock, valued at approximately $6,693,957. The disclosure for this sale can be found here. Insiders have sold a total of 50,099 shares of company stock valued at $7,914,306 in the last quarter. Insiders own 34.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Huntington National Bank increased its stake in shares of IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock worth $103,000 after buying an additional 829 shares during the period. Flinton Capital Management LLC increased its stake in shares of IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock worth $122,000 after buying an additional 32 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock worth $122,000 after buying an additional 109 shares during the period. Denali Advisors LLC bought a new stake in shares of IPG Photonics Corporation during the second quarter worth approximately $145,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of IPG Photonics Corporation during the second quarter worth approximately $152,000. Institutional investors own 60.04% of the company’s stock.
About IPG Photonics Corporation
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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