IPG Photonics (NASDAQ:IPGP) Stock Price Up 3.8% - Still a Buy?

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) shares rose 3.8% during mid-day trading on Monday . The company traded as high as $77.06 and last traded at $76.64. Approximately 23,736 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 267,183 shares. The stock had previously closed at $73.84.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Northcoast Research cut shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $93.50.

IPG Photonics Stock Up 1.4 %

The firm has a market cap of $3.24 billion, a PE ratio of -21.57 and a beta of 0.96. The business has a 50 day simple moving average of $77.63 and a two-hundred day simple moving average of $76.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. KBC Group NV grew its stake in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company's stock valued at $81,000 after acquiring an additional 365 shares during the period. Innealta Capital LLC acquired a new position in shares of IPG Photonics during the second quarter valued at approximately $85,000. Assetmark Inc. boosted its stake in shares of IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company's stock worth $99,000 after acquiring an additional 295 shares during the last quarter. FMR LLC increased its position in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company's stock worth $120,000 after purchasing an additional 153 shares in the last quarter. Finally, Covestor Ltd raised its stake in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company's stock valued at $139,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors 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.