IPG Photonics (NASDAQ:IPGP) Raised to “Buy” at CL King

IPG Photonics (NASDAQ:IPGP) was upgraded by stock analysts at CL King from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $76.00 target price on the semiconductor company’s stock. CL King’s target price indicates a potential upside of 14.70% from the stock’s current price.

A number of other research firms have also weighed in on IPGP. Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Citigroup cut their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.40.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $66.26 on Tuesday. The stock has a 50-day simple moving average of $67.00 and a two-hundred day simple moving average of $71.98. The firm has a market capitalization of $2.82 billion, a P/E ratio of -15.85 and a beta of 1.04. IPG Photonics has a fifty-two week low of $56.71 and a fifty-two week high of $92.21.

IPG Photonics (NASDAQ:IPGP) last released 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 negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, analysts forecast that IPG Photonics will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in IPG Photonics by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after buying an additional 173,584 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of IPG Photonics by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after purchasing an additional 9,852 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of IPG Photonics by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after purchasing an additional 28,606 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after purchasing an additional 181,844 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of IPG Photonics by 8.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock worth $39,749,000 after purchasing an additional 43,874 shares during the last quarter. 93.79% of the stock is currently owned by hedge funds and other 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.