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

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

A number of analysts have commented on the company. Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, 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 report on Wednesday, July 31st.

IPG Photonics Stock Performance

IPGP stock opened at $75.59 on Wednesday. The stock’s 50 day simple moving average is $70.06 and its 200 day simple moving average is $79.86. IPG Photonics has a fifty-two week low of $61.86 and a fifty-two week high of $111.11. The company has a market cap of $3.44 billion, a P/E ratio of 19.48 and a beta of 1.00.

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

Hedge Funds Weigh In On IPG Photonics

Institutional investors and hedge funds have recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in IPG Photonics during the first quarter valued at $52,000. Mather Group LLC. purchased a new stake in shares of IPG Photonics during the first quarter worth $67,000. Innealta Capital LLC purchased a new stake in shares of IPG Photonics during the second quarter worth $85,000. Covestor Ltd lifted its position in shares of IPG Photonics by 94.2% during the first quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 838 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in shares of IPG Photonics by 97.6% during the first quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock worth $178,000 after acquiring an additional 970 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

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.