IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the sale, the director now owns 16,491 shares of the company's stock, valued at $1,472,646.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
IPG Photonics Stock Performance
IPG Photonics stock traded down $0.43 during trading on Wednesday, hitting $83.55. The company's stock had a trading volume of 322,895 shares, compared to its average volume of 294,846. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 17.53 and a beta of 1.19. The stock's fifty day moving average is $87.66 and its 200 day moving average is $94.08. IPG Photonics Co. has a 1-year low of $80.33 and a 1-year high of $141.85.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The company's revenue for the quarter was down 27.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. On average, research analysts anticipate that IPG Photonics Co. will post 3.23 EPS for the current fiscal year.
IPG Photonics declared that its board has approved a share repurchase program on Tuesday, February 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
IPGP has been the subject of a number of analyst reports. Citigroup downgraded IPG Photonics from a "neutral" rating to a "sell" rating and decreased their price target for the company from $111.00 to $74.00 in a report on Thursday, February 15th. Seaport Res Ptn restated a "buy" rating on shares of IPG Photonics in a report on Thursday, January 25th. StockNews.com cut IPG Photonics from a "buy" rating to a "hold" rating in a report on Saturday, February 17th. Benchmark decreased their target price on IPG Photonics from $116.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $111.60.
Check Out Our Latest Stock Report on IPG Photonics
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Raymond James & Associates increased its position in IPG Photonics by 1,349.8% in the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company's stock valued at $4,872,000 after acquiring an additional 41,791 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in IPG Photonics by 2,136.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company's stock valued at $8,401,000 after buying an additional 79,039 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of IPG Photonics by 70.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company's stock worth $6,183,000 after purchasing an additional 23,595 shares during the period. Vanguard Group Inc. increased its stake in shares of IPG Photonics by 2.9% in the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company's stock worth $308,587,000 after purchasing an additional 85,984 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of IPG Photonics in the third quarter worth about $960,000. Institutional investors own 93.79% of the company's stock.
About IPG Photonics
(
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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.
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