Citigroup Issues Pessimistic Forecast for IPG Photonics (NASDAQ:IPGP) Stock Price

IPG Photonics (NASDAQ:IPGP) had its price objective dropped by analysts at Citigroup from $62.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Citigroup’s price target would suggest a potential downside of 6.22% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $87.75.

IPG Photonics Price Performance

Shares of IPG Photonics stock traded up $0.45 during trading on Tuesday, hitting $63.98. The company’s stock had a trading volume of 270,011 shares, compared to its average volume of 234,059. IPG Photonics has a 52 week low of $60.72 and a 52 week high of $92.21. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -18.44 and a beta of 0.95. The stock has a 50-day moving average price of $72.87 and a two-hundred day moving average price of $73.03.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, February 11th. 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%. On average, equities analysts predict that IPG Photonics will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of IPG Photonics by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,725 shares of the semiconductor company’s stock worth $6,307,000 after purchasing an additional 8,041 shares in the last quarter. Twinbeech Capital LP raised its holdings in shares of IPG Photonics by 177.1% in the 4th quarter. Twinbeech Capital LP now owns 35,064 shares of the semiconductor company’s stock worth $2,550,000 after acquiring an additional 22,411 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of IPG Photonics by 53.9% in the 4th quarter. Tidal Investments LLC now owns 14,765 shares of the semiconductor company’s stock worth $1,074,000 after acquiring an additional 5,173 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of IPG Photonics by 3.2% in the 4th quarter. Systematic Financial Management LP now owns 127,822 shares of the semiconductor company’s stock worth $9,295,000 after acquiring an additional 3,920 shares during the last quarter. Finally, Sora Investors LLC raised its holdings in shares of IPG Photonics by 94.8% in the 4th quarter. Sora Investors LLC now owns 165,611 shares of the semiconductor company’s stock worth $12,043,000 after acquiring an additional 80,611 shares during the last quarter. Institutional investors 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.