IPG Photonics (NASDAQ:IPGP) Reaches New 1-Year Low After Earnings Miss

IPG Photonics Co. (NASDAQ:IPGP)’s share price reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $61.31 and last traded at $61.23, with a volume of 23105 shares traded. The stock had previously closed at $63.72.

The semiconductor company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of research reports. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.50.

Hedge Funds Weigh In On IPG Photonics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of IPG Photonics during the second quarter worth about $223,000. CWM LLC increased its stake in shares of IPG Photonics by 226.4% in the 3rd 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 in the last quarter. Inspire Investing LLC boosted its position in shares of IPG Photonics by 31.0% during the 3rd quarter. Inspire Investing LLC now owns 6,156 shares of the semiconductor company’s stock worth $458,000 after purchasing an additional 1,456 shares in the last quarter. Creative Planning boosted its holdings in IPG Photonics by 93.3% in the third quarter. Creative Planning now owns 6,071 shares of the semiconductor company’s stock worth $451,000 after acquiring an additional 2,931 shares in the last quarter. Finally, Washington Capital Management Inc. acquired a new stake in IPG Photonics in the 3rd quarter valued at $483,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Stock Down 4.4 %

The firm’s 50-day moving average price is $73.98 and its 200 day moving average price is $73.55. The company has a market capitalization of $2.63 billion, a P/E ratio of -17.55 and a beta of 0.95.

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.