Analysts Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $93.40

Shares of IPG Photonics Co. (NASDAQ:IPGP) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $93.40.

Several analysts recently weighed in on IPGP shares. Citigroup cut their price target on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a report on Thursday, May 2nd. Raymond James cut their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Stifel Nicolaus cut their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st.

Insider Activity

In other news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the sale, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On IPG Photonics

Several large investors have recently modified their holdings of IPGP. Raymond James & Associates raised its position in shares of IPG Photonics by 1,349.8% in the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after purchasing an additional 41,791 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in IPG Photonics by 1,168.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 42,988 shares of the semiconductor company’s stock worth $4,666,000 after buying an additional 39,599 shares during the last quarter. Pacer Advisors Inc. raised its position in IPG Photonics by 20.5% in the 4th quarter. Pacer Advisors Inc. now owns 4,440 shares of the semiconductor company’s stock worth $482,000 after buying an additional 755 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in IPG Photonics in the 4th quarter worth about $304,000. Finally, Asset Management One Co. Ltd. raised its position in IPG Photonics by 18.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Up 2.0 %

Shares of NASDAQ IPGP opened at $67.32 on Friday. IPG Photonics has a 52 week low of $65.94 and a 52 week high of $111.11. The firm’s fifty day moving average is $83.73 and its 200 day moving average is $87.60. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 17.35 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 earnings per share. Equities research analysts anticipate that IPG Photonics will post 1.83 earnings per share for the current year.

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.