IPG Photonics Co. (NASDAQ:IPGP) Receives Average Rating of “Hold” from Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $93.50.

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

IPG Photonics Stock Up 2.1 %

IPGP stock opened at $73.53 on Friday. IPG Photonics has a fifty-two week low of $61.86 and a fifty-two week high of $104.19. The firm’s 50-day simple moving average is $75.32 and its 200 day simple moving average is $74.81. The stock has a market cap of $3.18 billion, a PE ratio of -21.19 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter last year, the company earned $1.16 EPS. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. Equities analysts forecast that IPG Photonics will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its stake in shares of IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 345 shares during the last quarter. KBC Group NV grew its stake in shares of IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares during the last quarter. Assetmark Inc. grew its stake in shares of IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the last quarter. FMR LLC grew its stake in shares of IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 153 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock worth $139,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

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.