IPG Photonics (NASDAQ:IPGP) Reaches New 12-Month Low Following Weak Earnings

Shares of IPG Photonics Co. (NASDAQ:IPGP) reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $61.31 and last traded at $61.23, with a volume of 23105 shares changing hands. The stock had previously closed at $63.72.

The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IPGP shares. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IPG Photonics currently has a consensus rating of “Hold” and an average target price of $89.75.

Institutional Investors Weigh In On IPG Photonics

Several hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of IPG Photonics by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after buying an additional 28,606 shares during the last quarter. Pacer Advisors Inc. increased its stake in IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after acquiring an additional 181,844 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in IPG Photonics by 8.9% during the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after purchasing an additional 43,874 shares in the last quarter. Baillie Gifford & Co. lifted its stake in IPG Photonics by 34.0% during the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after purchasing an additional 95,199 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of IPG Photonics by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company’s stock worth $26,879,000 after purchasing an additional 19,307 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

IPG Photonics Stock Performance

The stock has a market capitalization of $2.72 billion, a P/E ratio of -18.15 and a beta of 0.95. The firm has a 50-day moving average price of $73.74 and a 200 day moving average price of $73.47.

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.