IPG Photonics (NASDAQ:IPGP) Hits New 12-Month Low on Disappointing Earnings

IPG Photonics Co. (NASDAQ:IPGP) shares hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $61.31 and last traded at $61.23, with a volume of 23105 shares changing hands. The stock had previously closed at $63.72.

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 14.20% and a positive return on equity of 4.32%.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of recent analyst reports. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $93.50.

Institutional Trading of IPG Photonics

Several institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of IPG Photonics in the 2nd quarter valued at $223,000. CWM LLC boosted its holdings in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 1,689 shares in the last quarter. Inspire Investing LLC grew its holdings in IPG Photonics by 31.0% during the third quarter. Inspire Investing LLC now owns 6,156 shares of the semiconductor company’s stock worth $458,000 after acquiring an additional 1,456 shares during the period. Creative Planning grew its stake in shares of IPG Photonics by 93.3% during the 3rd quarter. Creative Planning now owns 6,071 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 2,931 shares during the period. Finally, Washington Capital Management Inc. purchased a new position in IPG Photonics in the third quarter valued at about $483,000. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 4.4 %

The stock has a market capitalization of $2.63 billion, a PE ratio of -17.55 and a beta of 0.95. The firm has a 50 day moving average of $73.98 and a two-hundred day moving average of $73.55.

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.