IPG Photonics Co. (NASDAQ:IPGP) Receives $93.50 Consensus PT from Analysts

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $93.50.

A number of research firms have issued reports on IPGP. Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th.

Institutional Trading of IPG Photonics

Several large investors have recently bought and sold shares of IPGP. Crewe Advisors LLC purchased a new position in shares of IPG Photonics in the first quarter valued at $52,000. Innealta Capital LLC acquired a new position in IPG Photonics in the 2nd quarter worth $85,000. KBC Group NV boosted its position in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares during the last quarter. Assetmark Inc. grew its stake in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 838 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

IPG Photonics Stock Performance

IPGP opened at $78.33 on Friday. IPG Photonics has a 1 year low of $61.86 and a 1 year high of $111.11. The company’s 50 day simple moving average is $74.09 and its 200 day simple moving average is $78.99. The stock has a market capitalization of $3.39 billion, a PE ratio of -22.57 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. IPG Photonics’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. As a group, sell-side analysts expect that IPG Photonics will post 1.53 earnings per share for the current fiscal year.

About IPG Photonics

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.