IPG Photonics Co. (NASDAQ:IPGP) CAO Thomas J. Burgomaster sold 621 shares of IPG Photonics stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $145.75, for a total value of $90,510.75. Following the completion of the sale, the chief accounting officer now directly owns 7,577 shares in the company, valued at $1,104,347.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
NASDAQ IPGP opened at $143.89 on Wednesday. The stock’s fifty day moving average is $137.23. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 3.31 and a beta of 2.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.54 and a quick ratio of 6.55. IPG Photonics Co. has a fifty-two week low of $104.64 and a fifty-two week high of $243.43.
IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.02). The company had revenue of $315.00 million for the quarter, compared to analyst estimates of $308.75 million. IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. On average, equities research analysts predict that IPG Photonics Co. will post 5.6 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on IPGP. BidaskClub raised IPG Photonics from a “sell” rating to a “hold” rating in a research note on Thursday, June 20th. Zacks Investment Research raised IPG Photonics from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. DA Davidson lifted their price target on IPG Photonics to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Canaccord Genuity lifted their price target on IPG Photonics from $138.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Cascend Securities reaffirmed a “buy” rating and issued a $200.00 price target (up from $180.00) on shares of IPG Photonics in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $185.90.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC acquired a new position in IPG Photonics during the first quarter worth $59,000. Stephens Inc. AR boosted its stake in IPG Photonics by 89.4% during the first quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock worth $76,000 after buying an additional 235 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in IPG Photonics by 133.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 508 shares of the semiconductor company’s stock worth $58,000 after buying an additional 290 shares during the last quarter. First Hawaiian Bank boosted its stake in IPG Photonics by 68.3% during the first quarter. First Hawaiian Bank now owns 673 shares of the semiconductor company’s stock worth $102,000 after buying an additional 273 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in IPG Photonics during the first quarter worth $106,000. 64.86% of the stock is currently owned by institutional investors.
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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