IPG Photonics (NASDAQ:IPGP) Upgraded by CL King to “Buy” Rating

CL King upgraded shares of IPG Photonics (NASDAQ:IPGP) from a neutral rating to a buy rating in a research note released on Tuesday morning, Marketbeat.com reports. CL King currently has $76.00 price objective on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the company. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Citigroup dropped their price objective on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus dropped their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.40.

IPG Photonics Price Performance

IPGP opened at $66.10 on Tuesday. The business has a 50 day simple moving average of $67.16 and a 200-day simple moving average of $72.03. The stock has a market capitalization of $2.81 billion, a P/E ratio of -15.81 and a beta of 1.04. IPG Photonics has a 12 month low of $56.71 and a 12 month high of $92.21.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. Research analysts anticipate that IPG Photonics will post 1.54 EPS for the current year.

Hedge Funds Weigh In On IPG Photonics

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after buying an additional 345 shares in the last quarter. Venturi Wealth Management LLC increased its position in IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock worth $76,000 after buying an additional 818 shares in the last quarter. SRS Capital Advisors Inc. increased its position in IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after buying an additional 876 shares in the last quarter. KBC Group NV grew its position 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 valued at $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 valued at $87,000. Hedge funds and other institutional investors own 93.79% of the company’s stock.

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.