IPG Photonics (NASDAQ:IPGP) Downgraded by Northcoast Research to “Neutral”

IPG Photonics (NASDAQ:IPGP) was downgraded by Northcoast Research from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat reports.

Several other brokerages have also recently issued reports on IPGP. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Performance

Shares of IPG Photonics stock opened at $75.19 on Wednesday. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11. The stock has a 50 day moving average price of $76.98 and a two-hundred day moving average price of $77.70. The stock has a market capitalization of $3.25 billion, a PE ratio of -21.67 and a beta of 0.96.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter last year, the firm posted $1.16 earnings per share. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. Research analysts forecast that IPG Photonics will post 1.51 EPS for the current year.

Institutional Trading of IPG Photonics

Several hedge funds have recently made changes to their positions in IPGP. Price T Rowe Associates Inc. MD raised its stake in shares of IPG Photonics by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,865 shares of the semiconductor company’s stock valued at $1,711,000 after buying an additional 939 shares during the period. Tidal Investments LLC raised its stake in shares of IPG Photonics by 10.1% during the 1st quarter. Tidal Investments LLC now owns 6,601 shares of the semiconductor company’s stock valued at $599,000 after purchasing an additional 607 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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. Donald L. Hagan LLC raised its stake in shares of IPG Photonics by 19.3% during the 2nd quarter. Donald L. Hagan LLC now owns 3,484 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 564 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of IPG Photonics by 26.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock valued at $25,580,000 after purchasing an additional 63,369 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.