According to Zacks, “IPG PHOTONICS is the world leader in high-power fiber lasers and amplifiers. IPG pioneered the development and commercialization of optical fiber-based lasers for use in a wide range of applications such as materials processing, advanced applications, telecommunications and medical applications. Fiber lasers have revolutionized the industry by delivering superior performance, reliability and usability at a lower total cost of ownership compared with conventional lasers, allowing end users to increase productivity and decrease operating costs. IPG has its headquarters in Oxford, Massachusetts, and has additional plants and offices throughout the world. “
Several other brokerages have also recently commented on IPGP. Canaccord Genuity set a $100.00 price objective on shares of IPG Photonics Corp. and gave the company a buy rating in a research note on Thursday, August 11th. Summit Redstone reiterated a buy rating on shares of IPG Photonics Corp. in a research note on Thursday, July 28th. Needham & Company LLC reiterated a buy rating and issued a $96.00 price objective (down previously from $98.00) on shares of IPG Photonics Corp. in a research note on Monday, August 1st. Finally, Credit Agricole SA reiterated an outperform rating and issued a $92.00 price objective on shares of IPG Photonics Corp. in a research note on Tuesday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. IPG Photonics Corp. presently has an average rating of Hold and a consensus target price of $94.83.
IPG Photonics Corp. (NASDAQ:IPGP) opened at 82.35 on Wednesday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 18.38 and a beta of 2.18. The stock has a 50 day moving average of $84.28 and a 200 day moving average of $86.44. IPG Photonics Corp. has a one year low of $70.21 and a one year high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.06. IPG Photonics Corp. had a net margin of 25.87% and a return on equity of 18.29%. The firm earned $252.80 million during the quarter, compared to analysts’ expectations of $243.79 million. During the same quarter last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts forecast that IPG Photonics Corp. will post $4.62 earnings per share for the current year.
In other news, Director Catherine P. Lego purchased 3,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $83.12 per share, for a total transaction of $249,360.00. Following the completion of the acquisition, the director now directly owns 3,012 shares in the company, valued at approximately $250,357.44. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 34.20% of the company’s stock.
Several large investors have recently modified their holdings of IPGP. Advisor Group Inc. purchased a new stake in shares of IPG Photonics Corp. during the second quarter worth approximately $103,000. LS Investment Advisors LLC increased its stake in shares of IPG Photonics Corp. by 71.1% in the second quarter. LS Investment Advisors LLC now owns 2,212 shares of the company’s stock worth $177,000 after buying an additional 919 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of IPG Photonics Corp. by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,407 shares of the company’s stock worth $193,000 after buying an additional 57 shares during the period. Jane Street Group LLC purchased a new stake in shares of IPG Photonics Corp. during the second quarter worth approximately $201,000. Finally, Gardiner Nancy B purchased a new stake in shares of IPG Photonics Corp. during the first quarter worth approximately $230,000. Institutional investors and hedge funds own 59.47% of the company’s stock.
About IPG Photonics Corp.
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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