ValuEngine cut shares of IPG Photonics (NASDAQ:IPGP) from a buy rating to a hold rating in a report released on Friday morning.

IPGP has been the subject of several other research reports. Zacks Investment Research cut shares of IPG Photonics from a buy rating to a hold rating in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a hold rating and set a $170.00 price target (up previously from $165.00) on shares of IPG Photonics in a report on Friday, September 1st. Needham & Company LLC boosted their price target on shares of IPG Photonics from $210.00 to $230.00 and gave the stock a buy rating in a report on Wednesday, November 1st. They noted that the move was a valuation call. DA Davidson boosted their price target on shares of IPG Photonics to $235.00 and gave the stock a buy rating in a report on Wednesday, November 1st. Finally, Benchmark restated a buy rating and set a $230.00 price objective on shares of IPG Photonics in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. IPG Photonics currently has an average rating of Buy and an average target price of $180.33.

Shares of IPG Photonics (NASDAQ:IPGP) traded down $4.85 during mid-day trading on Friday, hitting $224.13. 668,800 shares of the company were exchanged, compared to its average volume of 345,449. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $12,016.93, a PE ratio of 33.01, a P/E/G ratio of 1.63 and a beta of 1.70. IPG Photonics has a 52-week low of $93.38 and a 52-week high of $248.23.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.79 by $0.32. IPG Photonics had a net margin of 27.85% and a return on equity of 21.17%. The company had revenue of $392.62 million during the quarter, compared to analysts’ expectations of $367.27 million. During the same quarter in the previous year, the business posted $1.29 EPS. The firm’s revenue was up 47.6% on a year-over-year basis. equities analysts forecast that IPG Photonics will post 7.01 earnings per share for the current fiscal year.

In other IPG Photonics news, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $198.79, for a total transaction of $1,888,505.00. Following the completion of the transaction, the senior vice president now owns 16,957 shares in the company, valued at approximately $3,370,882.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 33.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can grew its stake in shares of IPG Photonics by 1,655.8% during the 2nd quarter. Bank of Montreal Can now owns 10,816 shares of the semiconductor company’s stock worth $1,569,000 after purchasing an additional 10,200 shares during the period. Aperio Group LLC grew its stake in shares of IPG Photonics by 11.4% during the 2nd quarter. Aperio Group LLC now owns 7,451 shares of the semiconductor company’s stock worth $1,081,000 after purchasing an additional 763 shares during the period. Russell Investments Group Ltd. grew its stake in shares of IPG Photonics by 2.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,633 shares of the semiconductor company’s stock worth $4,301,000 after purchasing an additional 710 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of IPG Photonics by 255.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 78,546 shares of the semiconductor company’s stock worth $11,376,000 after purchasing an additional 56,467 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of IPG Photonics during the 2nd quarter worth $240,000. Institutional investors own 56.44% 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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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