IPG Photonics (NASDAQ:IPGP) Sets New 1-Year Low at $80.33

IPG Photonics Co. (NASDAQ:IPGP) reached a new 52-week low during trading on Tuesday . The company traded as low as $80.33 and last traded at $83.28, with a volume of 92663 shares trading hands. The stock had previously closed at $88.58.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Seaport Res Ptn reissued a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. StockNews.com lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Citigroup lowered IPG Photonics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Finally, Stifel Nicolaus lowered their price target on IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and a consensus target price of $117.20.

IPG Photonics Stock Performance

The stock has a market cap of $3.89 billion, a P/E ratio of 18.06, a P/E/G ratio of 17.53 and a beta of 1.19. The business has a 50 day simple moving average of $87.77 and a 200-day simple moving average of $94.21.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $298.89 million during the quarter, compared to the consensus estimate of $287.03 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.91) EPS. On average, sell-side analysts predict that IPG Photonics Co. will post 3.23 earnings per share for the current fiscal year.

IPG Photonics declared that its board has authorized a stock repurchase program on Tuesday, February 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total transaction of $772,740.00. Following the completion of the transaction, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 29,000 shares of company stock worth $2,525,140. 33.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in IPG Photonics by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 8,755 shares of the semiconductor company’s stock worth $889,000 after purchasing an additional 118 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in IPG Photonics by 1.2% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 123 shares during the period. Treasurer of the State of North Carolina boosted its stake in IPG Photonics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock worth $1,444,000 after purchasing an additional 130 shares during the period. Asset Management One Co. Ltd. boosted its stake in IPG Photonics by 18.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 143 shares during the period. Finally, VisionPoint Advisory Group LLC boosted its stake in IPG Photonics by 127.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 145 shares during the period. Institutional investors own 93.79% of the company’s stock.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.