IPG Photonics’ (IPGP) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of IPG Photonics (NASDAQ:IPGP) in a research report report published on Wednesday, The Fly reports. The brokerage currently has a $150.00 price objective on the semiconductor company’s stock.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub raised Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. DA Davidson assumed coverage on Uber Technologies in a report on Wednesday, May 1st. They set a neutral rating and a $53.00 price target for the company. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a report on Monday, July 8th. Benchmark raised from a hold rating to a buy rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research cut Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $182.40.

IPGP stock opened at $131.60 on Wednesday. The company’s fifty day simple moving average is $139.76. IPG Photonics has a fifty-two week low of $104.64 and a fifty-two week high of $241.43. The firm has a market cap of $6.99 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 3.25 and a beta of 2.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 8.54 and a quick ratio of 6.55.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.02). IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The business had revenue of $315.00 million for the quarter, compared to analyst estimates of $308.75 million. During the same period in the prior year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. As a group, equities research analysts forecast that IPG Photonics will post 5.49 earnings per share for the current year.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 621 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $145.75, for a total value of $90,510.75. Following the transaction, the chief accounting officer now directly owns 7,577 shares in the company, valued at approximately $1,104,347.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Igor Samartsev sold 800 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $172.10, for a total value of $137,680.00. The disclosure for this sale can be found here. Insiders sold a total of 28,074 shares of company stock worth $4,472,833 over the last quarter. Corporate insiders own 33.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in shares of IPG Photonics by 0.3% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 21,922 shares of the semiconductor company’s stock worth $3,328,000 after purchasing an additional 60 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of IPG Photonics by 2.0% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 3,810 shares of the semiconductor company’s stock worth $578,000 after purchasing an additional 75 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in shares of IPG Photonics by 2.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,214 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 77 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of IPG Photonics by 1.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,068 shares of the semiconductor company’s stock worth $921,000 after purchasing an additional 78 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its position in shares of IPG Photonics by 1.7% in the 1st quarter. Malaga Cove Capital LLC now owns 5,730 shares of the semiconductor company’s stock worth $870,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

IPG Photonics Company Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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