Raymond James Lowers IPG Photonics (NASDAQ:IPGP) Price Target to $100.00

IPG Photonics (NASDAQ:IPGP) had its price target reduced by equities research analysts at Raymond James from $127.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “strong-buy” rating on the semiconductor company’s stock. Raymond James’ price target suggests a potential upside of 22.64% from the stock’s current price.

A number of other equities analysts also recently commented on IPGP. Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Citigroup reduced their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Trading Up 0.4 %

IPGP traded up $0.34 during midday trading on Wednesday, hitting $81.54. 86,787 shares of the company traded hands, compared to its average volume of 265,547. The business has a 50 day simple moving average of $85.74 and a two-hundred day simple moving average of $88.81. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 21.12 and a beta of 1.01. IPG Photonics has a 52-week low of $79.80 and a 52-week high of $132.99.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. During the same period in the prior year, the business posted $1.31 earnings per share. The business’s quarterly revenue was down 24.2% on a year-over-year basis. Equities research analysts anticipate that IPG Photonics will post 2.77 earnings per share for the current year.

Insider Activity at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction 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 sale, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 38.00% of the stock is owned by insiders.

Hedge Funds Weigh In On IPG Photonics

Several institutional investors have recently bought and sold shares of the company. Linden Thomas Advisory Services LLC increased its stake in IPG Photonics by 1.2% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock valued at $1,118,000 after buying an additional 123 shares during the period. Treasurer of the State of North Carolina grew its stake in IPG Photonics by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock valued at $1,444,000 after acquiring an additional 130 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in IPG Photonics by 18.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock valued at $102,000 after acquiring an additional 143 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in IPG Photonics by 23.8% in the 4th quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 179 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in IPG Photonics by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 200 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

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.