IPG Photonics (NASDAQ:IPGP) Hits New 1-Year Low at $67.26

IPG Photonics Co. (NASDAQ:IPGP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $67.26 and last traded at $67.26, with a volume of 7413 shares traded. The stock had previously closed at $71.38.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IPGP shares. Stifel Nicolaus cut their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Raymond James cut their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Citigroup decreased their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Stock Performance

The company has a fifty day simple moving average of $84.44 and a two-hundred day simple moving average of $87.90. The firm has a market capitalization of $3.09 billion, a PE ratio of 17.47 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business 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 5.99% and a net margin of 12.67%. The firm’s revenue was down 24.2% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. On average, equities analysts anticipate that IPG Photonics Co. will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeanmarie F. Desmond sold 985 shares of the business’s 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 of the company’s stock, valued at $367,978.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of IPG Photonics in the 4th quarter worth approximately $36,365,000. Raymond James & Associates boosted its stake in IPG Photonics by 1,349.8% in the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after acquiring an additional 41,791 shares in the last quarter. Evoke Wealth LLC purchased a new position in IPG Photonics in the fourth quarter worth $1,640,000. ARGA Investment Management LP acquired a new position in shares of IPG Photonics during the fourth quarter worth $1,067,000. Finally, Partnership Wealth Management LLC boosted its position in shares of IPG Photonics by 382.7% in the 1st quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after purchasing an additional 13,923 shares in the last quarter. Hedge funds and other institutional investors 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.