IPG Photonics (NASDAQ:IPGP)‘s stock had its “buy” rating reissued by Benchmark in a research note issued to investors on Tuesday, February 20th, MarketBeat Ratings reports. They currently have a $255.00 price target on the semiconductor company’s stock, up from their prior price target of $230.00. Benchmark’s price objective would suggest a potential upside of 0.68% from the stock’s previous close.
A number of other equities analysts also recently issued reports on IPGP. Zacks Investment Research downgraded IPG Photonics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Northcoast Research reiterated a “buy” rating and set a $290.00 price target on shares of IPG Photonics in a research report on Wednesday, January 31st. Needham & Company LLC increased their price target on IPG Photonics from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. They noted that the move was a valuation call. BidaskClub upgraded IPG Photonics from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Finally, DA Davidson increased their price target on IPG Photonics to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. IPG Photonics currently has a consensus rating of “Buy” and a consensus target price of $213.60.
IPG Photonics (IPGP) traded down $2.27 during trading on Tuesday, reaching $253.28. The company had a trading volume of 599,640 shares, compared to its average volume of 804,025. The firm has a market capitalization of $13,690.00, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.54 and a beta of 1.84. IPG Photonics has a 12-month low of $116.80 and a 12-month high of $264.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.27 and a current ratio of 8.82.
In other news, Director John R. Peeler sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $252.95, for a total value of $573,184.70. Following the transaction, the director now owns 9,270 shares in the company, valued at $2,344,846.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.53, for a total value of $653,825.00. Following the completion of the transaction, the chief financial officer now owns 33,600 shares in the company, valued at approximately $8,787,408. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,000 shares of company stock worth $14,199,417. Company insiders own 33.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of IPG Photonics in the second quarter valued at approximately $352,000. Canada Pension Plan Investment Board purchased a new position in shares of IPG Photonics in the third quarter valued at approximately $8,013,000. Moors & Cabot Inc. acquired a new stake in shares of IPG Photonics in the third quarter valued at approximately $1,374,000. Alps Advisors Inc. increased its holdings in shares of IPG Photonics by 14.4% in the third quarter. Alps Advisors Inc. now owns 4,629 shares of the semiconductor company’s stock valued at $857,000 after purchasing an additional 582 shares during the last quarter. Finally, Westpac Banking Corp acquired a new stake in shares of IPG Photonics in the third quarter valued at approximately $6,274,000. Institutional investors and hedge funds own 57.14% of the company’s stock.
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About IPG Photonics
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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