Stifel Nicolaus Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $85.00

IPG Photonics (NASDAQ:IPGP) had its price objective reduced by Stifel Nicolaus from $100.00 to $85.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.75.

IPG Photonics Stock Up 1.0 %

Shares of IPGP stock opened at $63.53 on Wednesday. The firm has a market cap of $2.75 billion, a P/E ratio of -18.31 and a beta of 0.95. The company has a 50 day moving average of $73.23 and a 200-day moving average of $73.23. IPG Photonics has a 12-month low of $60.72 and a 12-month high of $92.21.

IPG Photonics (NASDAQ:IPGP) last released 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%. As a group, equities analysts expect that IPG Photonics will post 1.47 EPS for the current year.

Institutional Investors Weigh In On IPG Photonics

A number of institutional investors and hedge funds have recently modified their holdings of IPGP. Versant Capital Management Inc grew its stake in IPG Photonics by 56.7% during 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 in the last quarter. Venturi Wealth Management LLC boosted its holdings in IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares during the period. SRS Capital Advisors Inc. grew its position in shares of IPG Photonics by 463.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 876 shares in the last quarter. KBC Group NV increased its holdings in shares of IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after purchasing an additional 365 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of IPG Photonics in the fourth quarter worth $87,000. 93.79% of the stock is 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.