Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Target Price at $93.50

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received an average recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $93.50.

IPGP has been the topic of several analyst reports. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. Sumitomo Mitsui Trust Group Inc. raised its position in shares of IPG Photonics by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after purchasing an additional 28,606 shares during the period. Dimensional Fund Advisors LP increased its stake 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. Pacer Advisors Inc. raised its holdings in 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 buying an additional 181,844 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in IPG Photonics by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after buying an additional 43,874 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of IPG Photonics by 10.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock valued at $40,448,000 after buying an additional 46,252 shares during the period. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $71.18 on Friday. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $104.19. The stock has a market capitalization of $3.08 billion, a P/E ratio of -20.51 and a beta of 0.96. The stock has a fifty day moving average of $75.38 and a 200-day moving average of $74.84.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Equities research analysts forecast that IPG Photonics will post 1.51 earnings per share for the current fiscal year.

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.