IPG Photonics (NASDAQ:IPGP) Sets New 52-Week Low at $67.26

IPG Photonics Co. (NASDAQ:IPGP)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $67.26 and last traded at $67.26, with a volume of 7413 shares changing hands. The stock had previously closed at $71.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IPGP shares. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus dropped their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup reduced their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, Raymond James reduced their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Price Performance

The firm has a 50-day simple moving average of $84.44 and a 200 day simple moving average of $87.90. The firm has a market cap of $3.09 billion, a PE ratio of 17.47 and a beta of 1.01.

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

Insider Transactions at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the firm’s 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 completion of the transaction, the director now owns 4,319 shares of the company’s stock, valued at approximately $367,978.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 38.00% of the company’s stock.

Institutional Trading of IPG Photonics

Several institutional investors have recently bought and sold shares of IPGP. Linden Thomas Advisory Services LLC raised its holdings in IPG Photonics by 1.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock worth $1,118,000 after buying an additional 123 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings 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 worth $1,444,000 after acquiring an additional 130 shares during the last quarter. Asset Management One Co. Ltd. lifted its position 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 in the last quarter. Janiczek Wealth Management LLC boosted its stake in IPG Photonics by 23.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 930 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 179 shares during the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of IPG Photonics by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after purchasing an additional 193 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

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.