IPG Photonics Co. (NASDAQ:IPGP) Receives $93.50 Consensus Price Target from Analysts

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One 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. The average 12 month price target among brokers that have issued a report on the stock in the last year is $93.50.

A number of analysts have recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th.

Institutional Investors Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in shares of IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after acquiring an additional 181,844 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in IPG Photonics by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after purchasing an additional 125,958 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of IPG Photonics by 26.4% during the second 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 during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of IPG Photonics by 5.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of IPG Photonics by 25.8% in the 2nd quarter. AQR Capital Management LLC now owns 254,578 shares of the semiconductor company’s stock worth $21,484,000 after buying an additional 52,204 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Up 2.0 %

Shares of IPGP stock opened at $76.67 on Thursday. The company’s fifty day simple moving average is $77.02 and its 200-day simple moving average is $77.55. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11. The company has a market cap of $3.32 billion, a PE ratio of -22.10 and a beta of 0.96.

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