IPG Photonics Co. (NASDAQ:IPGP) Director Jeanmarie F. Desmond Sells 1,180 Shares of Stock

IPG Photonics Co. (NASDAQ:IPGP – Get Rating) Director Jeanmarie F. Desmond sold 1,180 shares of IPG Photonics stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $109.70, for a total transaction of $129,446.00. Following the completion of the transaction, the director now directly owns 5,304 shares of the company’s stock, valued at $581,848.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $113.40 on Friday. IPG Photonics Co. has a one year low of $79.88 and a one year high of $134.81. The firm has a market cap of $5.36 billion, a P/E ratio of 58.10, a P/E/G ratio of 2.43 and a beta of 1.22. The firm has a 50-day simple moving average of $115.45 and a 200-day simple moving average of $108.73.

IPG Photonics (NASDAQ:IPGP – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.00 by $0.26. IPG Photonics had a net margin of 7.14% and a return on equity of 4.62%. The business had revenue of $347.17 million during the quarter, compared to analyst estimates of $330.60 million. During the same quarter in the previous year, the business posted $1.31 EPS. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, research analysts predict that IPG Photonics Co. will post 5.19 EPS for the current fiscal year.

IPG Photonics declared that its board has approved a stock repurchase program on Tuesday, May 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IPGP shares. StockNews.com raised shares of IPG Photonics from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Sanford C. Bernstein lifted their price objective on shares of IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a report on Thursday, February 16th. Stifel Nicolaus lifted their price objective on shares of IPG Photonics from $110.00 to $145.00 in a report on Wednesday, February 15th. Benchmark decreased their price objective on shares of IPG Photonics from $140.00 to $134.00 in a report on Wednesday, May 3rd. Finally, Citigroup decreased their price objective on shares of IPG Photonics from $160.00 to $152.00 in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $135.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Concord Wealth Partners bought a new position in shares of IPG Photonics during the 4th quarter worth approximately $27,000. Point72 Middle East FZE bought a new position in shares of IPG Photonics during the 4th quarter worth approximately $28,000. BOKF NA bought a new position in shares of IPG Photonics during the 1st quarter worth approximately $68,000. Eagle Bay Advisors LLC raised its stake in shares of IPG Photonics by 363.9% during the 4th quarter. Eagle Bay Advisors LLC now owns 566 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 444 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of IPG Photonics by 63.8% during the 4th quarter. Signaturefd LLC now owns 570 shares of the semiconductor company’s stock worth $54,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 63.50% of the company’s stock.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.