Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Target Price at $93.50

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $93.50.

Several research analysts have weighed in on IPGP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Raymond James dropped their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. Crewe Advisors LLC purchased a new position in IPG Photonics in the first quarter valued at $52,000. Innealta Capital LLC purchased a new position in shares of IPG Photonics in the 2nd quarter valued at about $85,000. KBC Group NV grew its position in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after buying an additional 365 shares in the last quarter. Assetmark Inc. increased its stake in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after buying an additional 295 shares during the period. Finally, FMR LLC raised its holdings in 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 acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

IPGP stock opened at $73.45 on Friday. IPG Photonics has a one year low of $61.86 and a one year high of $111.11. The firm has a market cap of $3.18 billion, a PE ratio of -21.17 and a beta of 0.98. The firm’s 50 day moving average price is $74.70 and its 200-day moving average price is $78.80.

IPG Photonics (NASDAQ:IPGP) last posted 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 company had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Equities research analysts predict that IPG Photonics will post 1.53 EPS for the current fiscal year.

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.