IPG Photonics Co. (NASDAQ:IPGP) Director Jeanmarie F. Desmond Sells 985 Shares of Stock

IPG Photonics Co. (NASDAQ:IPGPGet Free Report) Director Jeanmarie F. Desmond sold 985 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the transaction, the director now owns 4,319 shares in the company, valued at $367,978.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

IPG Photonics Stock Up 0.4 %

NASDAQ:IPGP opened at $87.10 on Tuesday. The business’s 50-day simple moving average is $87.43 and its two-hundred day simple moving average is $93.55. The stock has a market cap of $3.97 billion, a PE ratio of 22.45 and a beta of 1.08. IPG Photonics Co. has a 52 week low of $80.33 and a 52 week high of $141.85.

IPG Photonics (NASDAQ:IPGPGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business’s quarterly revenue was down 27.4% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Sell-side analysts anticipate that IPG Photonics Co. will post 2.77 earnings per share for the current fiscal year.

IPG Photonics announced that its board has approved a share buyback plan on Tuesday, February 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On IPG Photonics

Institutional investors and hedge funds have recently bought and sold shares of the business. Swedbank AB bought a new stake in shares of IPG Photonics in the first quarter worth about $2,687,000. Comerica Bank increased its holdings in shares of IPG Photonics by 11.0% in the first quarter. Comerica Bank now owns 45,444 shares of the semiconductor company’s stock worth $4,121,000 after purchasing an additional 4,503 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of IPG Photonics by 10.1% in the first quarter. Tidal Investments LLC now owns 6,601 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 607 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of IPG Photonics by 78.7% in the first quarter. Motley Fool Asset Management LLC now owns 22,372 shares of the semiconductor company’s stock worth $2,029,000 after purchasing an additional 9,851 shares during the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of IPG Photonics by 19.0% in the first quarter. Invenomic Capital Management LP now owns 258,255 shares of the semiconductor company’s stock worth $23,421,000 after purchasing an additional 41,277 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IPGP shares. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Stifel Nicolaus lowered 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. Citigroup lowered their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. StockNews.com downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Benchmark lowered 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, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Moderate Buy” and an average target price of $110.40.

View Our Latest Report on IPG Photonics

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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Insider Buying and Selling by Quarter for IPG Photonics (NASDAQ:IPGP)

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