Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Target Price at $93.40

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $93.40.

A number of equities analysts recently weighed in on the company. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus cut their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Citigroup decreased 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 note on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, May 1st. Finally, Raymond James decreased their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st.

IPG Photonics Price Performance

IPGP stock opened at $67.79 on Friday. The firm has a market cap of $3.09 billion, a PE ratio of 17.47 and a beta of 1.01. IPG Photonics has a 12 month low of $66.54 and a 12 month high of $111.29. The firm has a 50 day simple moving average of $84.44 and a 200 day simple moving average of $87.90.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $257.60 million for the quarter, compared to analyst estimates of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. IPG Photonics’s revenue was down 24.2% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS. As a group, sell-side analysts expect that IPG Photonics will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 38.00% of the stock is currently owned by corporate insiders.

Institutional Trading of IPG Photonics

A number of hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its stake in IPG Photonics by 1,349.8% during the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after acquiring an additional 41,791 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of IPG Photonics by 1,168.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock valued at $4,666,000 after purchasing an additional 39,599 shares during the period. Pacer Advisors Inc. raised its stake in shares of IPG Photonics by 20.5% in the fourth quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 755 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in IPG Photonics in the fourth quarter worth $304,000. Finally, Asset Management One Co. Ltd. boosted its stake in IPG Photonics by 18.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after buying an additional 143 shares in the last quarter. 93.79% of the stock is owned by 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.