IPG Photonics Co. (NASDAQ:IPGP) Receives Average Recommendation of “Hold” from Brokerages

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $93.50.

A number of research firms recently issued reports on IPGP. Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th.

Institutional Trading of IPG Photonics

Several hedge funds have recently modified their holdings of IPGP. Versant Capital Management Inc raised its position in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 345 shares in the last quarter. KBC Group NV increased its holdings in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares in the last quarter. Assetmark Inc. increased its holdings in shares of IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares in the last quarter. FMR LLC lifted its stake in shares of IPG Photonics by 10.4% in the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 153 shares during the period. Finally, Covestor Ltd boosted its holdings in IPG Photonics by 7.7% during the third quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after buying an additional 133 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Stock Up 0.1 %

NASDAQ:IPGP opened at $72.76 on Monday. IPG Photonics has a 52-week low of $61.86 and a 52-week high of $104.19. The stock’s 50 day moving average price is $77.39 and its 200 day moving average price is $76.12. The company has a market capitalization of $3.15 billion, a PE ratio of -20.97 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. As a group, sell-side analysts anticipate that IPG Photonics will post 1.51 EPS 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.