IPG Photonics Corporation (NASDAQ:IPGP) Lowered to “Hold” at Canaccord Genuity

Canaccord Genuity lowered shares of IPG Photonics Corporation (NASDAQ:IPGP) from a buy rating to a hold rating in a report published on Tuesday, July 18th, Marketbeat Ratings reports. The firm currently has $152.00 target price on the semiconductor company’s stock.

Several other analysts also recently weighed in on IPGP. Longbow Research raised IPG Photonics Corporation from a neutral rating to a buy rating and set a $175.00 target price on the stock in a research note on Tuesday, June 6th. Zacks Investment Research raised IPG Photonics Corporation from a hold rating to a buy rating and set a $152.00 target price on the stock in a research note on Thursday, May 4th. Needham & Company LLC reaffirmed a buy rating and set a $146.00 target price (up previously from $130.00) on shares of IPG Photonics Corporation in a research note on Wednesday, May 3rd. Dougherty & Co boosted their price objective on IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a buy rating in a research note on Wednesday, May 3rd. Finally, Stifel Nicolaus boosted their price objective on IPG Photonics Corporation from $135.00 to $145.00 and gave the stock a hold rating in a research note on Friday, June 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $141.00.

Shares of IPG Photonics Corporation (IPGP) traded down 0.45% on Tuesday, reaching $163.93. 291,686 shares of the company’s stock traded hands. IPG Photonics Corporation has a 52 week low of $80.52 and a 52 week high of $168.93. The firm has a market capitalization of $8.82 billion, a P/E ratio of 27.45 and a beta of 1.70. The firm’s 50 day moving average is $153.92 and its 200 day moving average is $132.82.

IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. The company had revenue of $369.37 million during the quarter, compared to analyst estimates of $333.06 million. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The business’s revenue was up 46.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Analysts expect that IPG Photonics Corporation will post $6.62 earnings per share for the current fiscal year.

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In related news, SVP Trevor Ness sold 5,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $145.69, for a total transaction of $728,450.00. Following the completion of the transaction, the senior vice president now owns 17,906 shares of the company’s stock, valued at approximately $2,608,725.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Seifert sold 2,849 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $141.47, for a total value of $403,048.03. Following the transaction, the director now owns 9,180 shares in the company, valued at $1,298,694.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,099 shares of company stock valued at $7,914,306 in the last three months. 34.20% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in IPGP. Huntington National Bank raised its stake in IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock worth $103,000 after buying an additional 829 shares during the period. Flinton Capital Management LLC raised its stake in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock worth $122,000 after buying an additional 32 shares during the period. YorkBridge Wealth Partners LLC raised its stake in IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock worth $122,000 after buying an additional 109 shares during the period. Denali Advisors LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth approximately $145,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation during the second quarter worth approximately $152,000. Institutional investors and hedge funds own 60.23% of the company’s stock.

About IPG Photonics Corporation

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.

Analyst Recommendations for IPG Photonics Corporation (NASDAQ:IPGP)

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