Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $93.50

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $93.50.

IPGP has been the subject of several analyst reports. Benchmark reissued a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research 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.

Institutional Investors Weigh In On IPG Photonics

Several institutional investors and hedge funds have recently modified their holdings of IPGP. JPMorgan Chase & Co. grew its stake in IPG Photonics by 22.7% during the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company's stock valued at $11,233,000 after acquiring an additional 28,003 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of 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 last quarter. Barclays PLC lifted its position in shares of IPG Photonics by 42.5% in the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock worth $2,883,000 after buying an additional 11,562 shares in the last quarter. XTX Topco Ltd bought a new position in IPG Photonics during the third quarter valued at approximately $356,000. Finally, Jane Street Group LLC grew its holdings in shares of IPG Photonics by 100.4% in the third quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company's stock valued at $1,618,000 after purchasing an additional 10,906 shares in the last quarter. Institutional investors own 93.79% of the company's stock.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP traded down $1.17 during mid-day trading on Monday, hitting $72.25. 213,363 shares of the stock traded hands, compared to its average volume of 267,484. The stock has a fifty day moving average price of $77.61 and a 200-day moving average price of $76.40. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -20.82 and a beta of 0.96. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $108.09.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm's quarterly revenue was down 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. As a group, sell-side analysts predict that IPG Photonics will post 1.51 EPS for the current fiscal year.

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.