IPG Photonics (IPGP) Shares Down 10.4%
IPG Photonics Corporation (NASDAQ:IPGP) shares were down 10.4% during trading on Tuesday . The stock traded as low as $200.01 and last traded at $200.80. Approximately 1,592,300 shares traded hands during trading, an increase of 354% from the average daily volume of 350,800 shares. The stock had previously closed at $224.13.
Several research analysts have recently commented on IPGP shares. Stifel Nicolaus reissued a “hold” rating and set a $170.00 price objective (up previously from $165.00) on shares of IPG Photonics in a report on Friday, September 1st. ValuEngine raised IPG Photonics from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. DA Davidson reissued a “buy” rating and set a $220.00 price objective on shares of IPG Photonics in a report on Tuesday, October 10th. Zacks Investment Research lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective (up previously from $182.00) on shares of IPG Photonics in a report on Friday, October 20th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. IPG Photonics currently has a consensus rating of “Buy” and an average price target of $180.33.
The company has a market capitalization of $12,016.93, a PE ratio of 33.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70. The company has a quick ratio of 7.46, a current ratio of 9.02 and a debt-to-equity ratio of 0.02.
IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.32. The company had revenue of $392.62 million during the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics had a return on equity of 21.17% and a net margin of 27.85%. IPG Photonics’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS. equities analysts predict that IPG Photonics Corporation will post 7.01 earnings per share for the current year.
In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the sale, the senior vice president now owns 16,957 shares in the company, valued at approximately $3,370,882.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 33.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IPGP. Bank of Montreal Can lifted its position in IPG Photonics by 1,655.8% in the second quarter. Bank of Montreal Can now owns 10,816 shares of the semiconductor company’s stock valued at $1,569,000 after purchasing an additional 10,200 shares during the last quarter. Aperio Group LLC lifted its position in IPG Photonics by 11.4% in the second quarter. Aperio Group LLC now owns 7,451 shares of the semiconductor company’s stock valued at $1,081,000 after purchasing an additional 763 shares during the last quarter. Russell Investments Group Ltd. lifted its position in IPG Photonics by 2.5% in the second quarter. Russell Investments Group Ltd. now owns 29,633 shares of the semiconductor company’s stock valued at $4,301,000 after purchasing an additional 710 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in IPG Photonics by 255.7% in the second quarter. Great West Life Assurance Co. Can now owns 78,546 shares of the semiconductor company’s stock valued at $11,376,000 after purchasing an additional 56,467 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in IPG Photonics in the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.
IPG Photonics Company Profile
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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