IPG Photonics Corporation (NASDAQ:IPGP) Stock Has Consensus Target Price of $139.60

Shares of IPG Photonics Corporation (NASDAQ:IPGP) have been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $131.67.

Several equities research analysts recently weighed in on IPGP shares. Sanford C. Bernstein reissued an “outperform” rating and set a $92.00 price objective on shares of IPG Photonics in a report on Thursday. Needham & Company LLC lowered their target price on IPG Photonics from $120.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group reissued a “buy” rating on shares of IPG Photonics in a research note on Thursday. Weiss Ratings reissued a “sell (d+)” rating on shares of IPG Photonics in a research note on Monday, September 21st. Finally, Citigroup reduced their price target on IPG Photonics from $150.00 to $137.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th.

IPG Photonics Trading Up 5.3%

NASDAQ:IPGP opened at $65.31 on Thursday. The stock has a 50 day simple moving average of $75.93 and a 200 day simple moving average of $100.55. The stock has a market cap of $2.78 billion, a P/E ratio of 69.48, a PEG ratio of 1.55 and a beta of 1.00. IPG Photonics has a 1-year low of $61.59 and a 1-year high of $155.82.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. The firm had revenue of $287.50 million for the quarter, compared to analyst estimates of $283.31 million. IPG Photonics had a net margin of 3.65% and a return on equity of 3.91%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, sell-side analysts forecast that IPG Photonics will post 1.89 EPS for the current year.

Insider Buying and Selling

In other news, Director John Peeler acquired 2,710 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $73.58 per share, for a total transaction of $199,401.80. Following the completion of the transaction, the director directly owned 20,886 shares in the company, valued at $1,536,791.88. This represents a 14.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fibre Devices Ltd Ip sold 15,361 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $85.64, for a total value of $1,315,516.04. Following the sale, the insider owned 6,390,628 shares of the company’s stock, valued at approximately $547,293,381.92. The trade was a 0.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 66,458 shares of company stock worth $5,194,276. Corporate insiders own 37.50% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

A number of large investors have recently modified their holdings of IPGP. State Street Corp grew its stake in shares of IPG Photonics by 11.0% in the second quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock worth $106,678,000 after acquiring an additional 90,028 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of IPG Photonics by 759.3% during the third quarter. Assenagon Asset Management S.A. now owns 182,823 shares of the semiconductor company’s stock valued at $14,311,000 after acquiring an additional 161,547 shares in the last quarter. Trillium Asset Management LLC purchased a new position in shares of IPG Photonics in the 2nd quarter worth about $3,938,000. Renaissance Technologies LLC raised its position in shares of IPG Photonics by 173.8% in the 1st quarter. Renaissance Technologies LLC now owns 85,700 shares of the semiconductor company’s stock worth $9,820,000 after purchasing an additional 54,400 shares during the last quarter. Finally, Westport Asset Management Inc. purchased a new position in shares of IPG Photonics in the 2nd quarter worth about $9,092,000. 93.79% of the stock is currently owned by institutional investors.

About IPG Photonics

IPG Photonics Corporation (NASDAQ:IPGP) develops and manufactures high-performance fiber lasers, laser systems, optical amplifiers and related components. Its product portfolio includes single-mode and multi-mode fiber lasers, pulsed lasers, diode lasers, beam-delivery systems and other specialized photonics products.

The company’s technologies are used primarily for industrial materials processing applications, including cutting, welding, marking, drilling, cladding and additive manufacturing.