IPG Photonics (NASDAQ:IPGP) Hits New 12-Month Low on Disappointing Earnings

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report)'s share price hit 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 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%.

Analyst Ratings Changes

Several analysts have recently weighed in on IPGP shares. Northcoast Research downgraded IPG Photonics from a "buy" rating to a "neutral" rating in a research note on Wednesday, December 4th. Benchmark reaffirmed 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. Finally, Stifel Nicolaus cut their target price on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $89.75.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pacific Heights Asset Management LLC grew its holdings in shares of IPG Photonics by 375.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after purchasing an additional 240,000 shares in the last quarter. Pacer Advisors Inc. boosted its position in IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company's stock valued at $49,871,000 after buying an additional 181,844 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in IPG Photonics by 14.7% during the 4th 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 last quarter. Retirement Systems of Alabama raised its holdings in IPG Photonics by 437.2% during the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock worth $13,011,000 after purchasing an additional 145,616 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in IPG Photonics in the fourth quarter valued at approximately $8,815,000. Institutional investors and hedge funds own 93.79% of the company's stock.

IPG Photonics Stock Up 1.0 %

The business has a fifty day moving average of $73.23 and a 200 day moving average of $73.18. The firm has a market cap of $2.75 billion, a P/E ratio of -18.31 and a beta of 0.95.

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.