IPG Photonics Corporation’s (IPGP) Buy Rating Reiterated at Benchmark Co.
Benchmark Co. restated their buy rating on shares of IPG Photonics Corporation (NASDAQ:IPGP) in a research report released on Wednesday. They currently have a $230.00 price objective on the semiconductor company’s stock.
“We see continued strong cash flow generation raising net cash to $30/share by 2019. Laser stocks thrive or dive based on the global manufacturing economy, in our view. We see this staying strong well into 2018.”,” Benchmark Co.’s analyst commented.
A number of other research firms have also commented on IPGP. Zacks Investment Research upgraded IPG Photonics Corporation from a hold rating to a strong-buy rating and set a $240.00 price objective on the stock in a research note on Friday, October 27th. Needham & Company LLC restated a buy rating and set a $210.00 price target (up from $182.00) on shares of IPG Photonics Corporation in a research note on Friday, October 20th. DA Davidson restated a buy rating and set a $220.00 price target on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. ValuEngine lowered IPG Photonics Corporation from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus restated a hold rating and set a $170.00 price target (up from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $180.33.
IPG Photonics Corporation (NASDAQ IPGP) traded up $6.52 during trading on Wednesday, hitting $213.86. The stock had a trading volume of 330,416 shares, compared to its average volume of 398,711. The company has a quick ratio of 7.97, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11,510.00, a price-to-earnings ratio of 30.54, a PEG ratio of 1.52 and a beta of 1.67. IPG Photonics Corporation has a twelve month low of $92.88 and a twelve month high of $219.64.
IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.32. The business had revenue of $392.62 million for the quarter, compared to analyst estimates of $367.27 million. IPG Photonics Corporation had a return on equity of 21.17% and a net margin of 27.85%. The firm’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. analysts predict that IPG Photonics Corporation will post 6.95 earnings per share for the current year.
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In other IPG Photonics Corporation news, CFO Timothy Pv Mammen sold 10,000 shares of IPG Photonics Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $162.87, for a total transaction of $1,628,700.00. Following the sale, the chief financial officer now directly owns 41,100 shares of the company’s stock, valued at $6,693,957. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Angelo P. Lopresti sold 11,750 shares of IPG Photonics Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $163.33, for a total value of $1,919,127.50. Following the sale, the senior vice president now directly owns 49,515 shares in the company, valued at $8,087,284.95. The disclosure for this sale can be found here. Insiders have sold 51,017 shares of company stock worth $8,724,286 over the last 90 days. Corporate insiders own 33.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Denali Advisors LLC acquired a new stake in IPG Photonics Corporation during the second quarter valued at approximately $145,000. Elefante Mark B acquired a new stake in IPG Photonics Corporation during the third quarter valued at approximately $201,000. Fulton Bank N.A. acquired a new stake in IPG Photonics Corporation during the third quarter valued at approximately $202,000. Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation during the second quarter valued at approximately $152,000. Finally, Beaumont Financial Partners LLC acquired a new stake in IPG Photonics Corporation during the third quarter valued at approximately $250,000. 58.94% of the stock is currently owned by institutional investors.
IPG Photonics Corporation Company Profile
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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