Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) PT at $85.40

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $85.40.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th.

IPG Photonics Trading Up 1.7 %

NASDAQ IPGP opened at $53.77 on Wednesday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -12.86 and a beta of 0.97. IPG Photonics has a 1-year low of $48.59 and a 1-year high of $92.21. The company has a 50 day moving average of $61.74 and a 200-day moving average of $70.95.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. On average, equities research analysts forecast that IPG Photonics will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of institutional investors have recently added to or reduced their stakes in IPGP. FMR LLC grew its stake in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after buying an additional 153 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of IPG Photonics by 515.8% during the 3rd quarter. Quantinno Capital Management LP now owns 29,932 shares of the semiconductor company’s stock valued at $2,225,000 after acquiring an additional 25,071 shares in the last quarter. Jane Street Group LLC grew its position in IPG Photonics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock worth $1,618,000 after acquiring an additional 10,906 shares during the last quarter. XTX Topco Ltd acquired a new position in IPG Photonics in the 3rd quarter worth about $356,000. Finally, Barclays PLC raised its position in IPG Photonics by 42.5% in the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock valued at $2,883,000 after purchasing an additional 11,562 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Company Profile

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.