IPG Photonics Co. (NASDAQ:IPGP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $93.50.

IPGP has been the subject of several research analyst reports. Raymond James reduced their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus reduced their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On IPG Photonics

Several institutional investors and hedge funds have recently made changes to their positions in IPGP. Mather Group LLC. acquired a new stake in shares of IPG Photonics during the 1st quarter valued at approximately $67,000. Partnership Wealth Management LLC increased its position in IPG Photonics by 382.7% in the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after buying an additional 13,923 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in IPG Photonics in the first quarter worth $4,534,000. State of Michigan Retirement System increased its position in IPG Photonics by 2.8% in the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock worth $662,000 after buying an additional 200 shares during the period. Finally, Principal Financial Group Inc. increased its position in IPG Photonics by 2.6% in the first quarter. Principal Financial Group Inc. now owns 111,359 shares of the semiconductor company’s stock worth $10,099,000 after buying an additional 2,801 shares during the period. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Stock Down 0.2 %

NASDAQ IPGP opened at $74.63 on Wednesday. The stock has a market cap of $3.40 billion, a PE ratio of 19.23 and a beta of 1.00. The business has a 50 day moving average price of $70.39 and a two-hundred day moving average price of $79.57. IPG Photonics has a fifty-two week low of $61.86 and a fifty-two week high of $111.11.

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