IPG Photonics (NASDAQ:IPGP) PT Lowered to $100.00 at Stifel Nicolaus

IPG Photonics (NASDAQ:IPGP) had its price target trimmed by Stifel Nicolaus from $115.00 to $100.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the company. Citigroup cut their price objective on IPG Photonics from $74.00 to $68.00 and set a sell rating on the stock in a report on Thursday, May 2nd. Benchmark downgraded IPG Photonics from a buy rating to a hold rating in a research note on Wednesday. Finally, Needham & Company LLC restated a hold rating on shares of IPG Photonics in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $93.40.

IPG Photonics Price Performance

Shares of NASDAQ:IPGP opened at $71.38 on Wednesday. The business’s 50-day moving average is $85.41 and its 200 day moving average is $88.67. The firm has a market capitalization of $3.16 billion, a P/E ratio of 18.40 and a beta of 1.01. IPG Photonics has a 1 year low of $70.68 and a 1 year high of $111.53.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data 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). The firm had revenue of $257.60 million during the quarter, compared to analyst estimates of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. On average, analysts expect that IPG Photonics will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 38.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IPG Photonics

A number of hedge funds have recently made changes to their positions in IPGP. Raymond James & Associates raised its holdings in shares of IPG Photonics by 1,349.8% during the fourth quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after acquiring an additional 41,791 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of IPG Photonics by 1,168.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock valued at $4,666,000 after purchasing an additional 39,599 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of IPG Photonics by 20.5% in the fourth quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 755 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of IPG Photonics in the fourth quarter valued at approximately $304,000. Finally, Asset Management One Co. Ltd. increased its holdings in shares of IPG Photonics by 18.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock valued at $102,000 after purchasing an additional 143 shares during the last quarter. 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.