IPG Photonics (NASDAQ:IPGP) Upgraded at CL King

IPG Photonics (NASDAQ:IPGP) was upgraded by CL King from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $76.00 price target on the semiconductor company’s stock. CL King’s price objective points to a potential upside of 20.03% from the stock’s current price.

A number of other analysts have also recently commented on IPGP. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Stifel Nicolaus decreased their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Citigroup decreased their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.40.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $63.32 on Tuesday. The company’s 50-day simple moving average is $67.33 and its two-hundred day simple moving average is $72.04. IPG Photonics has a one year low of $56.71 and a one year high of $92.21. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -15.15 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. Equities analysts expect that IPG Photonics will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several institutional investors have recently made changes to their positions in IPGP. Victory Capital Management Inc. increased its holdings in shares of IPG Photonics by 23.8% during the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 1,385 shares in the last quarter. KBC Group NV increased its holdings in shares of IPG Photonics by 50.6% during 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. Quest Partners LLC purchased a new position in shares of IPG Photonics during the 3rd quarter valued at approximately $190,000. Pacer Advisors Inc. increased its holdings in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after purchasing an additional 181,844 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of IPG Photonics by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 192,050 shares of the semiconductor company’s stock valued at $14,273,000 after purchasing an additional 7,911 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

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.