IPG Photonics’ (IPGP) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of IPG Photonics (NASDAQ:IPGP) in a research note published on Wednesday morning, Benzinga reports.

Several other analysts have also weighed in on the company. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus reduced 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 note on Wednesday, July 31st. Finally, Raymond James dropped their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Performance

Shares of IPGP opened at $82.29 on Wednesday. IPG Photonics has a fifty-two week low of $61.86 and a fifty-two week high of $111.11. The company’s fifty day moving average is $72.13 and its 200 day moving average is $79.25. The stock has a market capitalization of $3.56 billion, a PE ratio of -23.71 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business’s revenue was down 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. As a group, research analysts forecast that IPG Photonics will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in IPG Photonics in the first quarter worth approximately $2,687,000. M&G Plc purchased a new stake in shares of IPG Photonics during the first quarter valued at about $15,929,000. Quadrature Capital Ltd bought a new stake in shares of IPG Photonics in the 1st quarter valued at about $1,201,000. BNP Paribas Financial Markets boosted its holdings in shares of IPG Photonics by 125.5% in the 1st quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company’s stock valued at $3,696,000 after buying an additional 22,680 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after buying an additional 10,775 shares during the last quarter. 93.79% of the stock is currently owned by 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.