IPG Photonics (NASDAQ:IPGP) Price Target Cut to $106.00

IPG Photonics (NASDAQ:IPGP - Free Report) had its price target reduced by Benchmark from $116.00 to $106.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

A number of other equities research analysts also recently issued reports on IPGP. Citigroup downgraded shares of IPG Photonics from a neutral rating to a sell rating and reduced their price target for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Needham & Company LLC restated a hold rating on shares of IPG Photonics in a research report on Wednesday. Seaport Res Ptn restated a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a buy rating for the company in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded IPG Photonics from a buy rating to a hold rating in a research report on Saturday, February 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IPG Photonics has an average rating of Moderate Buy and a consensus target price of $111.60.

IPG Photonics Stock Performance

IPGP traded down $0.43 during trading on Wednesday, reaching $83.55. The company's stock had a trading volume of 322,895 shares, compared to its average volume of 294,846. IPG Photonics has a 52-week low of $80.33 and a 52-week high of $141.85. The company's fifty day moving average price is $87.66 and its 200-day moving average price is $94.08. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 17.53 and a beta of 1.19.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly 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. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $255.53 million. During the same period last year, the firm earned $1.26 EPS. The company's revenue for the quarter was down 27.4% on a year-over-year basis. Equities analysts predict that IPG Photonics will post 3.23 earnings per share for the current year.

IPG Photonics declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the completion of the transaction, the insider now directly owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eric Meurice sold 788 shares of the firm's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the sale, the director now directly owns 16,491 shares in the company, valued at $1,472,646.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $85.68, for a total value of $856,800.00. Following the sale, the insider now owns 7,219,599 shares of the company's stock, valued at $618,575,242.32. The disclosure for this sale can be found here. In the last three months, insiders sold 29,788 shares of company stock worth $2,595,508. Insiders own 33.50% of the company's stock.

Institutional Trading of IPG Photonics

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of IPG Photonics by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company's stock valued at $308,587,000 after acquiring an additional 85,984 shares in the last quarter. Invesco Ltd. lifted its position in shares of IPG Photonics by 9.6% during the third quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company's stock worth $84,968,000 after purchasing an additional 73,182 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IPG Photonics by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 789,991 shares of the semiconductor company's stock worth $85,750,000 after purchasing an additional 8,445 shares during the last quarter. Channing Capital Management LLC bought a new position in shares of IPG Photonics during the fourth quarter worth about $70,719,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of IPG Photonics by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company's stock worth $42,141,000 after purchasing an additional 5,958 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Company Profile

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.