IPG Photonics Co. (NASDAQ:IPGP) Receives $87.75 Consensus Target Price from Brokerages

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received a consensus rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $85.40.

Several equities analysts have commented on IPGP shares. Citigroup decreased their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Tuesday. Stifel Nicolaus decreased their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $64.06 on Friday. IPG Photonics has a one year low of $56.71 and a one year high of $92.21. The company has a market cap of $2.73 billion, a P/E ratio of -15.33 and a beta of 1.04. The firm’s fifty day moving average price is $66.67 and its two-hundred day moving average price is $71.91.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate 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%. As a group, equities research analysts expect that IPG Photonics will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 295 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in IPG Photonics by 28.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,418 shares of the semiconductor company’s stock valued at $2,112,000 after purchasing an additional 6,286 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after buying an additional 54,166 shares during the period. Aigen Investment Management LP acquired a new stake in shares of IPG Photonics during the 3rd quarter worth approximately $350,000. Finally, Victory Capital Management Inc. grew its position in shares of IPG Photonics by 23.8% during the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock worth $535,000 after buying an additional 1,385 shares during the period. Institutional investors own 93.79% of the company’s stock.

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.