IPG Photonics (NASDAQ:IPGP) Rating Increased to Buy at CL King

CL King upgraded shares of IPG Photonics (NASDAQ:IPGP) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports. CL King currently has $76.00 target price on the semiconductor company’s stock.

IPGP has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup reduced their price objective on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $85.40.

IPG Photonics Trading Up 4.4 %

Shares of IPG Photonics stock opened at $66.10 on Tuesday. IPG Photonics has a twelve month low of $56.71 and a twelve month high of $92.21. The stock has a market capitalization of $2.81 billion, a P/E ratio of -15.81 and a beta of 1.04. The business’s fifty day moving average price is $67.16 and its 200 day moving average price is $72.03.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts predict that IPG Photonics will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock valued at $98,335,000 after buying an additional 173,584 shares during the last quarter. Lazard Asset Management LLC increased its holdings in IPG Photonics by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock valued at $77,751,000 after buying an additional 9,852 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock valued at $72,694,000 after buying an additional 28,606 shares during the last quarter. Pacer Advisors Inc. increased its holdings in IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after buying an additional 181,844 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in IPG Photonics by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after buying an additional 43,874 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

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.