William S. Hurley Sells 5,255 Shares of IPG Photonics (IPGP) Stock
IPG Photonics (NASDAQ:IPGP) Director William S. Hurley sold 5,255 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $251.42, for a total value of $1,321,212.10. Following the sale, the director now directly owns 14,005 shares of the company’s stock, valued at approximately $3,521,137.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
NASDAQ IPGP opened at $246.74 on Friday. IPG Photonics has a twelve month low of $249.90 and a twelve month high of $252.71. The stock has a market capitalization of $13.56 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 2.48 and a beta of 1.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 9.54 and a quick ratio of 7.71.
IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, May 1st. The semiconductor company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.13. IPG Photonics had a return on equity of 21.59% and a net margin of 25.56%. The company had revenue of $359.90 million during the quarter, compared to analyst estimates of $346.35 million. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. equities research analysts predict that IPG Photonics will post 8.48 earnings per share for the current fiscal year.
IPGP has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on IPG Photonics from $230.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Northcoast Research reaffirmed a “buy” rating and issued a $290.00 price objective on shares of IPG Photonics in a research note on Wednesday, January 31st. Canaccord Genuity upped their price objective on IPG Photonics from $210.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $230.00) on shares of IPG Photonics in a research note on Tuesday, February 20th. Finally, DA Davidson upped their price objective on IPG Photonics from $1.86 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. IPG Photonics currently has an average rating of “Buy” and a consensus price target of $238.50.
About IPG Photonics
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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