IPG Photonics (NASDAQ:IPGP) Rating Reiterated by Needham & Company LLC

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IPG Photonics (NASDAQ:IPGP)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Wednesday, The Fly reports. They presently have a $150.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 14.58% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. DA Davidson began coverage on shares of Uber Technologies in a research report on Wednesday, May 1st. They set a “neutral” rating and a $53.00 price target for the company. BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, July 8th. Zacks Investment Research cut shares of Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Cascend Securities reissued a “buy” rating and set a $200.00 price target (up from $180.00) on shares of IPG Photonics in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. IPG Photonics has a consensus rating of “Hold” and an average price target of $182.40.

Shares of IPGP traded up $0.22 during trading hours on Wednesday, reaching $130.91. 755 shares of the company traded hands, compared to its average volume of 515,290. The firm has a fifty day moving average price of $139.67. The stock has a market cap of $6.94 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 3.24 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 has a 12 month low of $104.64 and a 12 month high of $241.52.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $308.75 million. During the same period last year, the business earned $1.93 earnings per share. The company’s revenue was down 12.5% on a year-over-year basis. Equities analysts anticipate that IPG Photonics will post 5.49 earnings per share for the current fiscal year.

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

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of IPG Photonics by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 407,522 shares of the semiconductor company’s stock valued at $46,168,000 after purchasing an additional 45,873 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of IPG Photonics by 9.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,035 shares of the semiconductor company’s stock valued at $910,000 after purchasing an additional 715 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of IPG Photonics by 20.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,114 shares of the semiconductor company’s stock valued at $693,000 after purchasing an additional 1,031 shares during the period. Northern Trust Corp lifted its stake in shares of IPG Photonics by 3.1% in the 4th quarter. Northern Trust Corp now owns 389,507 shares of the semiconductor company’s stock valued at $44,128,000 after purchasing an additional 11,536 shares during the period. Finally, Great West Life Assurance Co. Can lifted its stake in shares of IPG Photonics by 0.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 22,627 shares of the semiconductor company’s stock valued at $2,436,000 after purchasing an additional 209 shares during the period. 64.79% of the stock is owned by institutional investors and hedge funds.

About IPG Photonics

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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