Needham & Company LLC Reaffirms Hold Rating for IPG Photonics (NASDAQ:IPGP)

Needham & Company LLC reissued their hold rating on shares of IPG Photonics (NASDAQ:IPGP) in a report published on Wednesday morning, Benzinga reports.

IPGP has been the subject of several other research reports. Stifel Nicolaus cut their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Raymond James cut their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Up 1.6 %

IPG Photonics stock opened at $82.29 on Wednesday. The business has a 50 day moving average price of $72.13 and a two-hundred day moving average price of $79.25. IPG Photonics has a 12 month low of $61.86 and a 12 month high of $111.11.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating 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 revenue for the quarter was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Equities research analysts forecast that IPG Photonics will post 1.53 EPS for the current year.

Institutional Investors Weigh In On IPG Photonics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new stake in IPG Photonics during the 1st quarter valued at $2,687,000. M&G Plc acquired a new stake in IPG Photonics during the 1st quarter valued at $15,929,000. Quadrature Capital Ltd acquired a new stake in shares of IPG Photonics in the 1st quarter valued at $1,201,000. BNP Paribas Financial Markets increased its stake in shares of IPG Photonics by 125.5% in the 1st quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company’s stock valued at $3,696,000 after buying an additional 22,680 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after buying an additional 10,775 shares during the period. 93.79% of the stock is 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.