.png "IPG Photonics (NASDAQ: IPGP)")
In a report released today, James Ricchiuti from Needham assigned a Hold rating to IPG Photonics (IPGP). The company’s shares closed last Friday at $185.96, close to its 52-week high of $202.58.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 15.0% and a 61.3% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and Faro Technologies.
Currently, the analyst consensus on IPG Photonics is a Moderate Buy with an average price target of $181.23, implying a 0.7% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a $177.00 price target.
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The company has a one-year high of $202.58 and a one-year low of $98.04. Currently, IPG Photonics has an average volume of 279.5K.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IPGP in relation to earlier this year. Most recently, in August 2020, John Peeler, a Director at IPGP sold 3,002 shares for a total of $481,605.
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, laser systems, fiber amplifiers, and related optical components. Its products include beam delivery, medical, telecom equipment, product finder 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.
