IPG Photonics (NASDAQ:IPGP) Given “Hold” Rating at Benchmark

IPG Photonics (NASDAQ:IPGP)‘s stock had its “hold” rating reaffirmed by investment analysts at Benchmark in a research note issued to investors on Wednesday, Benzinga reports.

A number of other research analysts have also recently commented on IPGP. Raymond James dropped their target price on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Finally, Stifel Nicolaus cut their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP traded down $1.02 during trading hours on Wednesday, hitting $84.03. 65,400 shares of the stock were exchanged, compared to its average volume of 265,290. The company’s fifty day simple moving average is $71.44 and its two-hundred day simple moving average is $79.23. The company has a market cap of $3.83 billion, a PE ratio of 21.86 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 issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue was down 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that IPG Photonics will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 worth $277,207,000 after acquiring an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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. increased 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 valued at $77,375,000 after purchasing an additional 11,548 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in IPG Photonics by 2.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after purchasing an additional 10,775 shares during the period. Finally, Pacer Advisors Inc. raised its position in IPG Photonics by 58.7% during the 2nd quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock worth $41,282,000 after purchasing an additional 180,951 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

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.