IPG Photonics (NASDAQ:IPGP) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of IPG Photonics (NASDAQ:IPGP – Get Rating) in a research note released on Thursday. The brokerage issued a hold rating on the semiconductor company’s stock.

IPGP has been the topic of several other reports. DA Davidson reissued a buy rating on shares of IPG Photonics in a research note on Tuesday, January 3rd. Benchmark increased their price objective on shares of IPG Photonics from $130.00 to $140.00 and gave the company a buy rating in a report on Wednesday, February 15th. Stifel Nicolaus increased their price objective on shares of IPG Photonics from $110.00 to $145.00 in a report on Wednesday, February 15th. Citigroup increased their price objective on shares of IPG Photonics from $115.00 to $160.00 and gave the company a buy rating in a report on Thursday, February 16th. Finally, Sanford C. Bernstein increased their price objective on shares of IPG Photonics from $100.00 to $124.00 and gave the company a market perform rating in a report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $137.80.

IPG Photonics Trading Down 3.0 %

Shares of IPGP traded down $3.55 during mid-day trading on Thursday, hitting $116.33. 530,473 shares of the company traded hands, compared to its average volume of 227,911. IPG Photonics has a one year low of $79.88 and a one year high of $134.81. The business has a 50-day moving average of $116.74 and a 200 day moving average of $99.29. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 5.45 and a beta of 1.23.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 16,500 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $122.20, for a total value of $2,016,300.00. Following the sale, the insider now directly owns 7,378,099 shares in the company, valued at $901,603,697.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On IPG Photonics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Concord Wealth Partners acquired a new stake in shares of IPG Photonics during the fourth quarter worth $27,000. Point72 Middle East FZE acquired a new stake in shares of IPG Photonics during the fourth quarter worth $28,000. Wipfli Financial Advisors LLC acquired a new stake in shares of IPG Photonics during the third quarter worth $36,000. Quadrant Capital Group LLC grew its position in IPG Photonics by 195.1% in the second quarter. Quadrant Capital Group LLC now owns 478 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 316 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its position in IPG Photonics by 363.9% in the fourth quarter. Eagle Bay Advisors LLC now owns 566 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 444 shares in the last quarter. 63.50% of the stock is currently owned by institutional investors and hedge funds.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.