IPG Photonics Co. (NASDAQ:IPGP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IPG Photonics Co. (NASDAQ:IPGP) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $93.50.

Several analysts have recently issued reports on IPGP shares. Stifel Nicolaus decreased their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Finally, Benchmark lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On IPG Photonics

Hedge funds have recently modified their holdings of the business. Mather Group LLC. bought a new stake in IPG Photonics in the 1st quarter valued at $67,000. Partnership Wealth Management LLC grew its position in IPG Photonics by 382.7% during the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock worth $1,593,000 after buying an additional 13,923 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in IPG Photonics during the first quarter valued at about $4,534,000. State of Michigan Retirement System raised its holdings in IPG Photonics by 2.8% in the 1st quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock valued at $662,000 after acquiring an additional 200 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of IPG Photonics by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 111,359 shares of the semiconductor company’s stock worth $10,099,000 after acquiring an additional 2,801 shares during the period. 93.79% of the stock is owned by institutional investors.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $75.14 on Wednesday. The business has a 50 day simple moving average of $69.41 and a 200 day simple moving average of $80.14. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 19.37 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The business had revenue of $257.60 million for the quarter, compared to analyst estimates of $259.31 million. During the same quarter last year, the company earned $1.31 EPS. The business’s revenue for the quarter was down 24.2% compared to the same quarter last year. On average, analysts predict that IPG Photonics will post 1.38 EPS for the current year.

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.