Ipg Photonics Corp Receives a Buy from Needham

By Austin Angelo

Needham analyst James Ricchiuti reiterated a Buy rating on Ipg Photonics Corp (NASDAQ: IPGP) today and set a price target of $160. The company’s shares closed yesterday at $144.38, close to its 52-week high of $146.49.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 14.3% and a 64.2% success rate. Ricchiuti covers the Consumer Goods sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

Currently, the analyst consensus on Ipg Photonics Corp is Strong Buy and the average price target is $148.90, representing a 3.1% upside.

In a report issued on June 6, Longbow Research also upgraded the stock to Buy with a $175 price target.

Based on Ipg Photonics Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $286 million and quarterly net profit of $74.95 million. In comparison, last year the company earned revenue of $207 million and had a net profit of $49.33 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Michael Child, a Director at IPGP bought 3,333 shares for a total of $67,727.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

IPG Photonics Corp. engages in the design, development, production, and distribution of fiber lasers, fiber amplifiers and diode lasers that are used for diverse applications, primarily in materials processing, advanced technologies, telecommunications and medical applications. Its products include lasers systems, beam delivery, medical, telecom equipment, and components such as pump diodes, chillers, and mid-IR crystals. The company was founded by Valentin P. Gapontsev and Igor Samartsev in 1990 and is headquartered in Oxford, MA.