IPG Photonics Co. (NASDAQ:IPGP) Given Average Recommendation of “Moderate Buy” by Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $93.50.

A number of brokerages have weighed in on IPGP. Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus cut their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $75.14 on Wednesday. The company has a 50-day moving average of $69.41 and a 200-day moving average of $80.14. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 19.37 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company had revenue of $257.60 million for the quarter, compared to analyst estimates of $259.31 million. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was down 24.2% compared to the same quarter last year. Sell-side analysts forecast that IPG Photonics will post 1.38 EPS for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of large investors have recently modified their holdings of the stock. Washington Capital Management Inc. acquired a new stake in shares of IPG Photonics in the third quarter valued at approximately $483,000. Creative Planning increased its stake in shares of IPG Photonics by 93.3% in the 3rd quarter. Creative Planning now owns 6,071 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 2,931 shares during the period. Exchange Traded Concepts LLC raised its position in shares of IPG Photonics by 18.1% during the third quarter. Exchange Traded Concepts LLC now owns 271,061 shares of the semiconductor company’s stock worth $20,145,000 after acquiring an additional 41,598 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of IPG Photonics by 31.0% during the third quarter. Inspire Investing LLC now owns 6,156 shares of the semiconductor company’s stock valued at $458,000 after acquiring an additional 1,456 shares during the period. Finally, CWM LLC boosted its holdings in IPG Photonics by 226.4% in the third quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 1,689 shares during the last quarter. 93.79% of the stock is currently 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.