IPG Photonics (NASDAQ:IPGP) Price Target Lowered to $100.00 at Raymond James

IPG Photonics (NASDAQ:IPGP) had its price objective trimmed by Raymond James from $127.00 to $100.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a strong-buy rating on the semiconductor company’s stock.

IPGP has been the subject of a number of other reports. Stifel Nicolaus cut their price objective on IPG Photonics from $115.00 to $100.00 and set a buy rating for the company in a report on Wednesday. Citigroup cut their price objective on IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reiterated a hold rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Benchmark cut IPG Photonics from a buy rating to a hold rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $93.40.

IPG Photonics Stock Down 7.4 %

Shares of NASDAQ IPGP opened at $71.38 on Wednesday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 18.40 and a beta of 1.01. The stock’s 50-day simple moving average is $85.12 and its two-hundred day simple moving average is $88.48. IPG Photonics has a twelve month low of $70.68 and a twelve month high of $111.53.

IPG Photonics (NASDAQ:IPGP) last announced its 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). The business had revenue of $257.60 million during the quarter, compared to the consensus estimate of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. IPG Photonics’s revenue was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. As a group, research analysts anticipate that IPG Photonics will post 1.83 EPS for the current fiscal year.

Insider Activity at IPG Photonics

In related news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the sale, the director now directly owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IPG Photonics

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in IPG Photonics by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock valued at $277,207,000 after purchasing an additional 11,830 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in IPG Photonics by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock valued at $77,375,000 after purchasing an additional 11,548 shares during the period. Dimensional Fund Advisors LP increased its position in IPG Photonics by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 789,991 shares of the semiconductor company’s stock valued at $85,750,000 after purchasing an additional 8,445 shares during the period. Channing Capital Management LLC purchased a new position in IPG Photonics during the 4th quarter valued at $70,719,000. Finally, Charles Schwab Investment Management Inc. increased its position in IPG Photonics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 388,257 shares of the semiconductor company’s stock valued at $42,141,000 after purchasing an additional 5,958 shares during the period. 93.79% of the stock is currently owned by institutional investors.

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.