IPG Photonics (NASDAQ:IPGP) Given New $85.00 Price Target at Stifel Nicolaus

IPG Photonics (NASDAQ:IPGP) had its price target decreased by Stifel Nicolaus from $100.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 35.18% from the company’s current price.

Several other equities research analysts have also weighed in on IPGP. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $89.75.

IPG Photonics Stock Down 0.1 %

NASDAQ:IPGP opened at $62.88 on Wednesday. IPG Photonics has a 12 month low of $60.72 and a 12 month high of $92.21. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -18.12 and a beta of 0.95. The company’s 50 day moving average is $73.74 and its 200-day moving average is $73.47.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. Research analysts predict that IPG Photonics will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in shares of IPG Photonics in the 4th quarter valued at about $415,000. Marshall Wace LLP bought a new position in shares of IPG Photonics in the 4th quarter valued at about $3,989,000. Ontario Teachers Pension Plan Board raised its position in shares of IPG Photonics by 7.9% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 6,824 shares of the semiconductor company’s stock valued at $496,000 after acquiring an additional 502 shares during the period. Sterling Capital Management LLC raised its position in shares of IPG Photonics by 52.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 572 shares during the period. Finally, Covestor Ltd raised its position in shares of IPG Photonics by 39.3% in the 4th quarter. Covestor Ltd now owns 2,604 shares of the semiconductor company’s stock valued at $189,000 after acquiring an additional 735 shares during the period. Institutional investors own 93.79% of the company’s stock.

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.