Citigroup Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $60.00

IPG Photonics (NASDAQ:IPGP) had its price objective reduced by Citigroup from $62.00 to $60.00 in a research note published on Tuesday,Benzinga reports. They currently have a sell rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.75.

IPG Photonics Trading Down 0.4 %

IPG Photonics stock opened at $64.60 on Tuesday. IPG Photonics has a 1-year low of $60.72 and a 1-year high of $92.21. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -15.45 and a beta of 0.95. The firm has a 50 day simple moving average of $72.05 and a 200 day simple moving average of $72.86.

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

Institutional Trading of IPG Photonics

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of IPG Photonics by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after acquiring an additional 173,584 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of IPG Photonics by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after acquiring an additional 9,852 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of IPG Photonics by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after acquiring an additional 28,606 shares during the last quarter. Pacer Advisors Inc. lifted 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 worth $49,871,000 after acquiring an additional 181,844 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of IPG Photonics by 8.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock worth $39,749,000 after acquiring an additional 43,874 shares during the last quarter. 93.79% of the stock is owned by 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.