IPG Photonics Co. (NASDAQ:IPGP) Receives $87.75 Average Target Price from Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $87.75.

IPGP has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup reduced their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research note on Tuesday, February 18th. Finally, Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $63.32 on Friday. The firm has a 50 day simple moving average of $67.33 and a 200-day simple moving average of $72.04. The firm has a market cap of $2.69 billion, a PE ratio of -15.15 and a beta of 1.04. IPG Photonics has a 1-year low of $56.71 and a 1-year high of $92.21.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, sell-side analysts expect that IPG Photonics will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds have recently made changes to their positions in IPGP. Dimensional Fund Advisors LP increased its position in shares of IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after acquiring an additional 173,584 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of IPG Photonics by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after acquiring an additional 9,852 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after acquiring an additional 28,606 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after acquiring an additional 181,844 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of 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 worth $39,749,000 after acquiring an additional 43,874 shares in the last quarter. Institutional investors and hedge funds 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.