IPG Photonics (NASDAQ:IPGP) Price Target Lowered to $60.00 at Citigroup

IPG Photonics (NASDAQ:IPGP) had its price target decreased by Citigroup from $62.00 to $60.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a sell rating on the semiconductor company’s stock.

Other analysts have also issued reports about the company. Stifel Nicolaus dropped their target price on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IPG Photonics presently has a consensus rating of “Hold” and an average target price of $87.75.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $63.98 on Tuesday. IPG Photonics has a 12 month low of $60.72 and a 12 month high of $92.21. The firm has a market capitalization of $2.77 billion, a PE ratio of -18.44 and a beta of 0.95. The business’s 50-day moving average is $72.87 and its two-hundred day moving average is $73.03.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. Equities analysts anticipate that IPG Photonics will post 1.47 EPS for the current year.

Hedge Funds Weigh In On IPG Photonics

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 345 shares during the period. Venturi Wealth Management LLC boosted its stake in IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 818 shares during the period. SRS Capital Advisors Inc. boosted its stake in IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 876 shares during the period. KBC Group NV boosted its stake in IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 365 shares during the period. Finally, Headlands Technologies LLC acquired a new position in IPG Photonics in the fourth quarter valued at approximately $87,000. 93.79% of the stock is currently owned by institutional investors and hedge funds.

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.