Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $93.50

Shares of IPG Photonics Co. (NASDAQ:IPGP) have earned a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $93.50.

Several brokerages recently commented on IPGP. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its stake in IPG Photonics by 100.4% in the 3rd quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock valued at $1,618,000 after purchasing an additional 10,906 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after buying an additional 125,958 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in shares of IPG Photonics by 2.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after buying an additional 10,775 shares during the last quarter. Barclays PLC boosted its stake in shares of IPG Photonics by 42.5% during the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock worth $2,883,000 after acquiring an additional 11,562 shares during the period. Finally, LHM Inc. increased its holdings in shares of IPG Photonics by 61.1% during the 2nd quarter. LHM Inc. now owns 45,775 shares of the semiconductor company’s stock worth $3,863,000 after acquiring an additional 17,354 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

IPGP stock opened at $71.18 on Friday. The stock has a market capitalization of $3.08 billion, a P/E ratio of -20.51 and a beta of 0.96. IPG Photonics has a fifty-two week low of $61.86 and a fifty-two week high of $104.19. The business has a 50-day moving average of $75.38 and a 200-day moving average of $74.84.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results 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 positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The business’s revenue was down 22.6% on a year-over-year basis. Equities analysts expect that IPG Photonics will post 1.51 EPS for the current year.

About IPG Photonics

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.