IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction on Monday, April 29th. The shares were 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 of the company's stock, valued at approximately $1,472,646.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
IPG Photonics Stock Down 0.5 %
Shares of NASDAQ:IPGP opened at $83.55 on Thursday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 16.66 and a beta of 1.17. The business has a 50 day moving average price of $87.66 and a 200 day moving average price of $94.08. IPG Photonics Co. has a twelve month low of $80.33 and a twelve month high of $141.85.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The company 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 7.67% and a net margin of 15.34%. The company's quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. Analysts anticipate that IPG Photonics Co. will post 3.23 EPS for the current year.
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IPG Photonics announced that its board has initiated a stock repurchase program on Tuesday, February 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on IPGP shares. Citigroup lowered IPG Photonics from a "neutral" rating to a "sell" rating and cut their target price for the company from $111.00 to $74.00 in a report on Thursday, February 15th. Benchmark cut their price objective on IPG Photonics from $116.00 to $106.00 and set a "buy" rating on the stock in a research note on Wednesday. StockNews.com cut IPG Photonics from a "buy" rating to a "hold" rating in a research report on Saturday, February 17th. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a research report on Wednesday. Finally, Seaport Res Ptn restated a "buy" rating on shares of IPG Photonics in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $111.60.
Read Our Latest Stock Analysis on IPG Photonics
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in IPG Photonics by 2.9% during the third quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company's stock worth $308,587,000 after buying an additional 85,984 shares in the last quarter. Invesco Ltd. lifted its position in shares of IPG Photonics by 9.6% in the 3rd quarter. Invesco Ltd. now owns 836,794 shares of the semiconductor company's stock worth $84,968,000 after acquiring an additional 73,182 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of IPG Photonics by 1.1% during the 4th 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 in the last quarter. Channing Capital Management LLC bought a new stake in shares of IPG Photonics during the fourth quarter valued at approximately $70,719,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of IPG Photonics by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company's stock valued at $42,141,000 after purchasing an additional 5,958 shares in the last quarter. Institutional investors own 93.79% of the company's stock.
IPG Photonics Company Profile
(
Get Free Report)
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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