Analysts Set IPG Photonics Co. (NASDAQ:IPGP) PT at $93.50

Shares of IPG Photonics Co. (NASDAQ:IPGP) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. One 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 issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $93.50.

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

IPG Photonics Stock Performance

Shares of IPGP opened at $72.72 on Monday. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $108.09. The stock has a 50 day moving average price of $77.53 and a two-hundred day moving average price of $76.29. The firm has a market capitalization of $3.14 billion, a P/E ratio of -20.96 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share 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 business had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same period last year, the business earned $1.16 EPS. The business’s revenue was down 22.6% on a year-over-year basis. On average, equities analysts forecast that IPG Photonics will post 1.51 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

Several large investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted 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 purchasing an additional 181,844 shares in the last quarter. Dimensional Fund Advisors LP grew 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 acquiring an additional 125,958 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 63,369 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in IPG Photonics by 5.9% in the 3rd 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 in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of IPG Photonics by 25.8% during the 2nd quarter. AQR Capital Management LLC now owns 254,578 shares of the semiconductor company’s stock valued at $21,484,000 after purchasing an additional 52,204 shares in the last quarter. Hedge funds and other 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.