IPG Photonics Co. (NASDAQ:IPGP) Receives $93.40 Average Target Price from Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $93.40.

Several equities research analysts have commented on IPGP shares. Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus dropped their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Raymond James reduced their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $70.41 on Friday. The firm’s 50-day moving average price is $71.75 and its 200-day moving average price is $81.58. The company has a market capitalization of $3.21 billion, a PE ratio of 18.15 and a beta of 1.00. IPG Photonics has a 1-year low of $61.86 and a 1-year high of $111.11.

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). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The business had revenue of $257.60 million for the quarter, compared to the consensus estimate of $259.31 million. During the same period in the prior year, the business posted $1.31 EPS. IPG Photonics’s revenue for the quarter was down 24.2% on a year-over-year basis. Equities analysts anticipate that IPG Photonics will post 1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On IPG Photonics

Several large investors have recently bought and sold shares of IPGP. Vanguard Group Inc. lifted its stake 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 acquiring an additional 11,830 shares during the period. Dimensional Fund Advisors LP boosted its holdings in IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after purchasing an additional 125,958 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in IPG Photonics by 1.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after purchasing an additional 11,548 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after purchasing an additional 10,775 shares during the period. Finally, Pacer Advisors Inc. raised its stake in IPG Photonics by 58.7% during the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after buying an additional 180,951 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

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.