IPG Photonics (NASDAQ:IPGP) Sets New 12-Month Low – Here’s Why

IPG Photonics Co. (NASDAQ:IPGP)’s stock price reached a new 52-week low on Thursday . The company traded as low as $56.12 and last traded at $56.46, with a volume of 111044 shares changing hands. The stock had previously closed at $63.48.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IPGP shares. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Citigroup decreased their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, February 18th. Finally, CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.40.

IPG Photonics Stock Down 5.4 %

The firm’s 50 day simple moving average is $64.32 and its two-hundred day simple moving average is $71.77. The stock has a market capitalization of $2.22 billion, a P/E ratio of -12.47 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results 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 Co. will post 1.54 earnings per share for the current year.

Institutional Trading of IPG Photonics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in shares of IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 345 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in IPG Photonics by 463.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 876 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of IPG Photonics in the fourth quarter worth approximately $87,000. Finally, KBC Group NV lifted its holdings in shares of IPG Photonics by 48.5% in the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 527 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

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.