IPG Photonics (NASDAQ:IPGP) Stock Rating Upgraded by Sanford C. Bernstein

Key Points

• IPG Photonics has been upgraded to an "outperform" rating by Sanford C. Bernstein, with a price target of $97.00, indicating a potential upside of 34.46% from its previous close.
• The company recently reported earnings of $0.30 per share for the last quarter, significantly beating analysts' expectations of $0.10, although revenue was down 2.7% year-over-year.
• IPG Photonics' stock is largely held by institutional investors, with 93.79% of shares owned by this group, indicating strong confidence in the company's prospects.

IPG Photonics (NASDAQ:IPGP - Get Free Report) was upgraded by Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a $97.00 target price on the semiconductor company's stock. Sanford C. Bernstein's price objective would indicate a potential upside of 28.88% from the stock's current price.

IPGP has been the topic of a number of other reports. Stifel Nicolaus set a $72.00 target price on shares of IPG Photonics in a research note on Monday, April 28th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Raymond James Financial dropped their price target on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $75.00.

IPG Photonics Trading Up 0.0%

IPGP stock traded up $0.00 during trading on Thursday, reaching $75.26. 78,210 shares of the stock were exchanged, compared to its average volume of 303,620. The business has a 50 day moving average price of $71.88 and a 200-day moving average price of $65.62. IPG Photonics has a 1 year low of $48.59 and a 1 year high of $88.50. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -15.37, a P/E/G ratio of 21.55 and a beta of 0.88.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.20. IPG Photonics had a negative net margin of 22.77% and a positive return on equity of 2.25%. The company had revenue of $250.72 million for the quarter, compared to the consensus estimate of $228.20 million. During the same period in the previous year, the firm earned $0.45 earnings per share. IPG Photonics's quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that IPG Photonics will post 1.54 EPS for the current year.

Insider Buying and Selling at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 1,360 shares of IPG Photonics stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $76.24, for a total value of $103,686.40. Following the completion of the transaction, the director owned 9,740 shares in the company, valued at approximately $742,577.60. The trade was a 12.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 39.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in IPG Photonics by 1,621.7% during the 2nd quarter. True Wealth Design LLC now owns 396 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 373 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in IPG Photonics by 207.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 290 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of IPG Photonics during the 1st quarter worth approximately $39,000. UMB Bank n.a. lifted its position in shares of IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock worth $40,000 after buying an additional 329 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of IPG Photonics by 76.9% during the 2nd quarter. Signaturefd LLC now owns 764 shares of the semiconductor company's stock worth $52,000 after buying an additional 332 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company's stock.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.