IPG Photonics (NASDAQ:IPGP) Receives “Hold” Rating from Benchmark

Benchmark restated their hold rating on shares of IPG Photonics (NASDAQ:IPGP) in a research report sent to investors on Wednesday, Benzinga reports.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Raymond James dropped their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

Shares of IPGP stock traded up $1.33 during midday trading on Wednesday, hitting $82.29. 350,595 shares of the company were exchanged, compared to its average volume of 267,540. The firm has a market capitalization of $3.56 billion, a P/E ratio of -23.71 and a beta of 1.00. The firm’s 50 day moving average price is $72.13 and its two-hundred day moving average price is $79.25. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The business had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. IPG Photonics’s revenue was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. Analysts expect that IPG Photonics will post 1.31 EPS for the current year.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently made changes to their positions in IPGP. Pacer Advisors Inc. raised its position in shares of IPG Photonics by 58.7% in the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after buying an additional 180,951 shares in the last quarter. M&G Plc acquired a new position in IPG Photonics during the 1st quarter worth approximately $15,929,000. Dimensional Fund Advisors LP increased its position in IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after purchasing an additional 125,958 shares in the last quarter. Motley Fool Asset Management LLC increased its position in IPG Photonics by 602.2% during the 1st quarter. Motley Fool Asset Management LLC now owns 87,928 shares of the semiconductor company’s stock worth $7,974,000 after purchasing an additional 75,407 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in IPG Photonics by 26.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after purchasing an additional 63,369 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

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.