Benchmark Reaffirms "Hold" Rating for IPG Photonics (NASDAQ:IPGP)

IPG Photonics (NASDAQ:IPGP - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Benchmark in a research report issued on Wednesday, Benzinga reports.

Several other research analysts have also recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a report on Wednesday. Raymond James cut their target price on shares of IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus decreased their price target on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, IPG Photonics currently has an average rating of "Hold" and a consensus price target of $93.50.

IPG Photonics Stock Down 2.0 %

IPGP stock traded down $1.74 during mid-day trading on Wednesday, hitting $83.31. 336,249 shares of the company were exchanged, compared to its average volume of 266,579. The business has a fifty day simple moving average of $71.44 and a 200-day simple moving average of $79.23. The firm has a market capitalization of $3.80 billion, a P/E ratio of 21.47 and a beta of 1.00. IPG Photonics has a 12-month low of $61.86 and a 12-month high of $111.11.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. IPG Photonics's revenue was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. Research analysts predict that IPG Photonics will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fiera Capital Corp boosted its holdings in IPG Photonics by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company's stock valued at $1,902,000 after purchasing an additional 193 shares in the last quarter. State of Michigan Retirement System lifted its holdings in IPG Photonics by 2.8% in the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company's stock valued at $662,000 after acquiring an additional 200 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of IPG Photonics by 4.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company's stock worth $585,000 after purchasing an additional 278 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in shares of IPG Photonics by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 25,871 shares of the semiconductor company's stock worth $2,346,000 after purchasing an additional 334 shares during the period. Finally, Inspire Investing LLC increased its holdings in shares of IPG Photonics by 11.2% in the 1st quarter. Inspire Investing LLC now owns 3,922 shares of the semiconductor company's stock valued at $356,000 after purchasing an additional 395 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

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.