Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) PT at $93.50

IPG Photonics Co. (NASDAQ:IPGP) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $93.50.

Several equities research analysts recently weighed in on IPGP shares. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Covestor Ltd raised its holdings in shares of IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after purchasing an additional 133 shares during the period. FMR LLC raised its stake in IPG Photonics by 10.4% during the 3rd 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 period. Fiera Capital Corp grew its stake in IPG Photonics by 0.9% in the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock valued at $1,902,000 after acquiring an additional 193 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of IPG Photonics by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after acquiring an additional 278 shares in the last quarter. Finally, Assetmark Inc. raised its position 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 worth $99,000 after purchasing an additional 295 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Stock Up 0.7 %

Shares of IPGP stock opened at $72.72 on Monday. The business has a fifty day simple moving average of $77.53 and a 200 day simple moving average of $76.29. The company has a market cap of $3.14 billion, a P/E ratio of -20.96 and a beta of 0.96. IPG Photonics has a twelve month low of $61.86 and a twelve month high of $108.09.

IPG Photonics (NASDAQ:IPGP) last posted 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 the consensus estimate of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. As a group, equities research analysts anticipate that IPG Photonics will post 1.51 earnings per share for the current fiscal year.

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.