IPG Photonics (NASDAQ:IPGP) Sets New 1-Year Low at $62.03

IPG Photonics Co. (NASDAQ:IPGP)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $62.03 and last traded at $62.50, with a volume of 21003 shares trading hands. The stock had previously closed at $62.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James dropped their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Stock Performance

The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 16.20 and a beta of 1.00. The stock has a 50-day moving average of $76.67 and a 200-day moving average of $83.34.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) 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 quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue for the quarter was down 24.2% compared to the same quarter last year. As a group, research analysts expect that IPG Photonics Co. will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. bought a new stake in shares of IPG Photonics in the 4th quarter worth $40,000. M&T Bank Corp acquired a new stake in shares of IPG Photonics during the fourth quarter worth $228,000. Charles Schwab Investment Management Inc. raised its position in shares of IPG Photonics by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company’s stock worth $42,141,000 after purchasing an additional 5,958 shares during the period. BNP Paribas Financial Markets raised its position in shares of IPG Photonics by 171.8% during the fourth quarter. BNP Paribas Financial Markets now owns 18,071 shares of the semiconductor company’s stock worth $1,961,000 after purchasing an additional 11,422 shares during the period. Finally, Jump Financial LLC raised its position in shares of IPG Photonics by 1.1% during the fourth quarter. Jump Financial LLC now owns 22,800 shares of the semiconductor company’s stock worth $2,475,000 after purchasing an additional 242 shares during the period. 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.