IPG Photonics (NASDAQ:IPGP) Given New $60.00 Price Target at Citigroup

IPG Photonics (NASDAQ:IPGP) had its target price lowered by Citigroup from $62.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a sell rating on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus decreased their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IPG Photonics presently has a consensus rating of “Hold” and an average price target of $87.75.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $63.98 on Tuesday. The business’s fifty day moving average price is $72.87 and its two-hundred day moving average price is $73.03. The stock has a market cap of $2.77 billion, a PE ratio of -18.44 and a beta of 0.95. IPG Photonics has a one year low of $60.72 and a one year high of $92.21.

IPG Photonics (NASDAQ:IPGP) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. As a group, equities research analysts predict that IPG Photonics will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. Versant Capital Management Inc boosted its holdings in IPG Photonics by 56.7% in 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 during the last quarter. Venturi Wealth Management LLC raised its position in IPG Photonics by 355.7% in the fourth 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. raised its position in IPG Photonics by 463.5% in the fourth 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 during the period. KBC Group NV raised its position in IPG Photonics by 50.6% in the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 365 shares during the period. Finally, Headlands Technologies LLC purchased a new position in IPG Photonics in the fourth quarter valued at about $87,000. Institutional investors and hedge funds 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.