Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) PT at $87.75

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $87.75.

A number of research firms have commented on IPGP. Citigroup cut their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report on Tuesday, February 18th. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus dropped their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. raised its stake in IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after acquiring an additional 295 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in IPG Photonics by 28.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 28,418 shares of the semiconductor company’s stock worth $2,112,000 after purchasing an additional 6,286 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares during the last quarter. Aigen Investment Management LP purchased a new position in IPG Photonics during the 3rd quarter worth $350,000. Finally, Victory Capital Management Inc. grew its position in IPG Photonics by 23.8% during the 3rd quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock worth $535,000 after purchasing an additional 1,385 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

IPG Photonics Stock Performance

NASDAQ:IPGP opened at $63.32 on Friday. IPG Photonics has a one year low of $56.71 and a one year high of $92.21. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -15.15 and a beta of 1.04. The firm’s fifty day moving average is $67.33 and its two-hundred day moving average is $72.04.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. As a group, equities research analysts predict that IPG Photonics will post 1.54 earnings per share for the current fiscal year.

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.