Citigroup Lowers IPG Photonics (NASDAQ:IPGP) Price Target to $60.00

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

A number of other brokerages also recently issued reports on IPGP. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. Northcoast Research downgraded shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Stifel Nicolaus cut their price target on shares of IPG Photonics from $100.00 to $85.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Finally, Benchmark reiterated 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, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $87.75.

IPG Photonics Trading Down 2.2 %

IPGP stock traded down $1.43 on Tuesday, hitting $63.17. The company's stock had a trading volume of 184,613 shares, compared to its average volume of 232,114. The firm has a 50 day moving average of $72.05 and a two-hundred day moving average of $72.86. IPG Photonics has a 1 year low of $60.72 and a 1 year high of $92.21. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -15.11 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its quarterly earnings data 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 positive return on equity of 2.98% and a negative net margin of 18.58%. As a group, equities analysts forecast that IPG Photonics will post 1.54 EPS for the current fiscal year.

Institutional Trading of IPG Photonics

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in IPG Photonics by 14.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock worth $98,335,000 after purchasing an additional 173,584 shares during the period. Lazard Asset Management LLC boosted its holdings in IPG Photonics by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company's stock worth $77,751,000 after purchasing an additional 9,852 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company's stock worth $72,694,000 after purchasing an additional 28,606 shares during the period. Pacer Advisors Inc. boosted its holdings in IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company's stock worth $49,871,000 after purchasing an additional 181,844 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in IPG Photonics by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company's stock worth $39,749,000 after purchasing an additional 43,874 shares during the period. 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.