Raymond James Lowers IPG Photonics (NASDAQ:IPGP) Price Target to $100.00

IPG Photonics (NASDAQ:IPGP) had its price target reduced by analysts at Raymond James from $127.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “strong-buy” rating on the semiconductor company’s stock. Raymond James’ price target points to a potential upside of 22.64% from the stock’s current price.

Several other analysts have also commented on the stock. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Stifel Nicolaus decreased their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup decreased their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Finally, Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, IPG Photonics has an average rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Trading Up 0.4 %

Shares of NASDAQ IPGP traded up $0.34 during midday trading on Wednesday, reaching $81.54. The company had a trading volume of 86,787 shares, compared to its average volume of 265,547. The business’s 50-day simple moving average is $85.74 and its 200 day simple moving average is $88.81. The stock has a market cap of $3.72 billion, a P/E ratio of 21.12 and a beta of 1.01. IPG Photonics has a 1 year low of $79.80 and a 1 year high of $132.99.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The company’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. Analysts predict that IPG Photonics will post 2.77 earnings per share for the current year.

Insider Buying and Selling at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of IPG Photonics stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the transaction, the director now owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPGP. Raymond James & Associates grew its holdings in IPG Photonics by 1,349.8% during the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after acquiring an additional 41,791 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of IPG Photonics by 1,168.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock worth $4,666,000 after buying an additional 39,599 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of IPG Photonics by 20.5% during the 4th quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock worth $482,000 after buying an additional 755 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of IPG Photonics during the 4th quarter worth approximately $304,000. Finally, Asset Management One Co. Ltd. raised its position in IPG Photonics by 18.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 143 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

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.