IPG Photonics (NASDAQ:IPGP) Hits New 1-Year Low at $80.33

IPG Photonics Co. (NASDAQ:IPGP)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $80.33 and last traded at $83.28, with a volume of 92663 shares trading hands. The stock had previously closed at $88.58.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citigroup downgraded IPG Photonics from a “neutral” rating to a “sell” rating and lowered their price target for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. StockNews.com downgraded 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. 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 report on Wednesday. Finally, Stifel Nicolaus decreased their target price on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.60.

IPG Photonics Price Performance

The stock has a market cap of $3.81 billion, a P/E ratio of 21.53, a PEG ratio of 16.66 and a beta of 1.17. The business’s 50 day simple moving average is $87.66 and its 200 day simple moving average is $94.08.

IPG Photonics (NASDAQ:IPGP) last announced 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 firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. 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 company earned $1.26 earnings per share. Research analysts predict that IPG Photonics Co. will post 3.23 earnings per share for the current year.

IPG Photonics declared that its Board of Directors has approved a share repurchase program on Tuesday, February 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Friday, February 23rd. The shares were 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 owns 7,219,599 shares in the company, valued at $618,575,242.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction that occurred on 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 transaction, the director now owns 16,491 shares in the company, valued at $1,472,646.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the transaction, the insider now owns 7,219,599 shares of the company’s stock, valued at approximately $618,575,242.32. The disclosure for this sale can be found here. Insiders sold a total of 29,788 shares of company stock worth $2,595,508 over the last quarter. Company insiders own 37.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in IPG Photonics by 2.9% in the 3rd 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 last quarter. Invesco Ltd. raised its position in 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 purchasing an additional 73,182 shares during the last quarter. Dimensional Fund Advisors LP raised its position in IPG Photonics by 1.1% in 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 during the last quarter. Channing Capital Management LLC bought a new position in IPG Photonics in the 4th quarter worth approximately $70,719,000. Finally, Charles Schwab Investment Management Inc. raised its position in IPG Photonics by 1.6% in the 4th 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. Institutional investors own 93.79% of the company’s stock.

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.