Stifel Nicolaus Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $85.00

IPG Photonics (NASDAQ:IPGP) had its price objective reduced by analysts at Stifel Nicolaus from $100.00 to $85.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 37.60% from the company’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.75.

IPG Photonics Price Performance

IPGP stock traded down $1.95 during trading on Wednesday, hitting $61.77. 33,256 shares of the stock traded hands, compared to its average volume of 219,068. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -17.67 and a beta of 0.95. IPG Photonics has a 1 year low of $61.06 and a 1 year high of $101.94. The firm’s 50 day moving average is $73.98 and its two-hundred day moving average is $73.55.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. As a group, analysts anticipate that IPG Photonics will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IPGP. Norges Bank purchased a new position in shares of IPG Photonics in the fourth quarter worth approximately $5,630,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in IPG Photonics by 17.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,172 shares of the semiconductor company’s stock valued at $376,000 after buying an additional 776 shares during the last quarter. AI Squared Management Ltd bought a new position in IPG Photonics in the fourth quarter worth approximately $2,872,000. EntryPoint Capital LLC boosted its stake in shares of IPG Photonics by 104.7% during the 4th quarter. EntryPoint Capital LLC now owns 6,285 shares of the semiconductor company’s stock worth $457,000 after acquiring an additional 3,214 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of IPG Photonics during the 4th quarter valued at $465,000. 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.