Citigroup Trims IPG Photonics (NASDAQ:IPGP) Target Price to $146.00

IPG Photonics (NASDAQ:IPGPGet Rating) had its target price decreased by Citigroup from $157.00 to $146.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the semiconductor company’s stock.

Separately, Benchmark reduced their target price on shares of IPG Photonics from $183.00 to $165.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, IPG Photonics presently has a consensus rating of Hold and a consensus price target of $171.38.

IPG Photonics Price Performance

Shares of IPGP stock opened at $101.84 on Wednesday. The firm’s 50-day moving average is $97.51 and its two-hundred day moving average is $110.53. IPG Photonics has a 12 month low of $82.68 and a 12 month high of $183.46. The company has a market capitalization of $5.11 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 5.16 and a beta of 1.36.

IPG Photonics (NASDAQ:IPGPGet Rating) last issued its earnings results on Tuesday, August 2nd. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). IPG Photonics had a return on equity of 10.31% and a net margin of 17.91%. The firm had revenue of $377.02 million for the quarter, compared to analysts’ expectations of $373.26 million. During the same period last year, the firm earned $1.33 earnings per share. IPG Photonics’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts forecast that IPG Photonics will post 4.7 EPS for the current year.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $102.97, for a total value of $514,850.00. Following the sale, the insider now directly owns 7,434,599 shares of the company’s stock, valued at approximately $765,540,659.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Valentin Gapontsev Trust I sold 5,000 shares of IPG Photonics stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $102.97, for a total value of $514,850.00. Following the completion of the transaction, the insider now owns 7,434,599 shares in the company, valued at $765,540,659.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Pv Mammen acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of $83.54 per share, with a total value of $250,620.00. Following the acquisition, the chief financial officer now directly owns 53,493 shares of the company’s stock, valued at approximately $4,468,805.22. The disclosure for this purchase can be found here. Insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in IPG Photonics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,849,934 shares of the semiconductor company’s stock worth $422,568,000 after acquiring an additional 24,859 shares in the last quarter. Alliancebernstein L.P. grew its holdings in IPG Photonics by 14.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,400,502 shares of the semiconductor company’s stock worth $585,362,000 after acquiring an additional 427,524 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in IPG Photonics by 40.5% during the 1st quarter. First Eagle Investment Management LLC now owns 3,236,022 shares of the semiconductor company’s stock worth $355,186,000 after acquiring an additional 933,160 shares in the last quarter. BlackRock Inc. grew its holdings in IPG Photonics by 1.5% during the 1st quarter. BlackRock Inc. now owns 2,559,937 shares of the semiconductor company’s stock worth $280,980,000 after acquiring an additional 37,842 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in IPG Photonics by 18.9% during the 1st quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock worth $186,788,000 after acquiring an additional 270,190 shares in the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

IPG Photonics Company Profile

(Get Rating)

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. The company's 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.

Further Reading

Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.