IPG Photonics (NASDAQ:IPGP) Stock Rating Lowered by Benchmark

Benchmark cut shares of IPG Photonics (NASDAQ:IPGP) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat reports.

Other research analysts have also recently issued research reports about the company. Citigroup decreased their price target on IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC restated a hold rating on shares of IPG Photonics in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IPG Photonics currently has an average rating of Hold and a consensus price target of $93.40.

IPG Photonics Trading Down 7.4 %

Shares of NASDAQ:IPGP opened at $71.38 on Wednesday. The stock has a fifty day simple moving average of $85.41 and a two-hundred day simple moving average of $88.67. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 18.40 and a beta of 1.01. IPG Photonics has a 12-month low of $70.68 and a 12-month high of $111.53.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities research analysts predict that IPG Photonics will post 1.83 EPS for the current year.

Insider Activity at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares in the company, valued at $367,978.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 38.00% of the stock is owned by company insiders.

Institutional Trading of IPG Photonics

A number of hedge funds have recently bought and sold shares of the company. Fiera Capital Corp increased its position in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after acquiring an additional 193 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in IPG Photonics by 30.8% during the second quarter. Waterfront Wealth Inc. now owns 11,844 shares of the semiconductor company’s stock valued at $1,000,000 after purchasing an additional 2,791 shares during the period. Commonwealth Equity Services LLC grew its holdings in IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 278 shares during the period. Innealta Capital LLC bought a new stake in IPG Photonics during the second quarter valued at about $85,000. Finally, Bank of New York Mellon Corp grew its holdings in IPG Photonics by 26.4% during the second quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock valued at $25,580,000 after purchasing an additional 63,369 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Company Profile

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.