IPG Photonics (NASDAQ:IPGP) Price Target Lowered to $106.00 at Benchmark

IPG Photonics (NASDAQ:IPGP) had its price target lowered by Benchmark from $116.00 to $106.00 in a research note published on Wednesday, Benzinga reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

Several other research firms also recently issued reports on IPGP. Seaport Res Ptn restated a buy rating on shares of IPG Photonics in a report on Thursday, January 25th. Citigroup cut shares of IPG Photonics from a neutral rating to a sell rating and cut their price target for the company from $111.00 to $74.00 in a report on Thursday, February 15th. StockNews.com lowered shares of IPG Photonics from a buy rating to a hold rating in a report on Saturday, February 17th. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $130.00 to $115.00 and set a buy rating for the company in a research report on Wednesday, February 14th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of IPG Photonics in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have 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 presently has an average rating of Moderate Buy and a consensus target price of $111.60.

IPG Photonics Trading Down 0.5 %

NASDAQ IPGP opened at $83.55 on Wednesday. The company’s fifty day simple moving average is $87.66 and its 200-day simple moving average is $94.08. The stock has a market cap of $3.81 billion, a P/E ratio of 21.53, a PEG ratio of 16.66 and a beta of 1.17. IPG Photonics has a 52 week low of $80.33 and a 52 week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The firm’s revenue was down 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. On average, research analysts expect that IPG Photonics will post 3.23 EPS for the current fiscal year.

IPG Photonics declared that its board has initiated a share buyback program on Tuesday, February 13th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the sale, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Eric Meurice sold 788 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now directly owns 16,491 shares of the company’s stock, valued at $1,472,646.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the completion of the sale, the insider now directly owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The disclosure for this sale can be found here. In the last three months, insiders sold 29,788 shares of company stock valued at $2,595,508. Company insiders own 37.10% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently modified their holdings of the company. VisionPoint Advisory Group LLC lifted its position in IPG Photonics by 127.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $40,000. Disciplined Equity Management Inc. acquired a new position in shares of IPG Photonics during the fourth quarter worth approximately $43,000. Assetmark Inc. grew its holdings in IPG Photonics by 39.4% in the 3rd quarter. Assetmark Inc. now owns 612 shares of the semiconductor company’s stock worth $62,000 after buying an additional 173 shares in the last quarter. Finally, AM Squared Ltd increased its position in IPG Photonics by 200.0% in the 4th quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds 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.