IPG Photonics' (IPGP) "Hold" Rating Reiterated at Benchmark

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

A number of other brokerages also recently weighed in on IPGP. Raymond James lowered their price target on IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus decreased their target price on IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $93.50.

IPG Photonics Stock Down 1.2 %

Shares of NASDAQ:IPGP traded down $1.02 during midday trading on Wednesday, hitting $84.03. The stock had a trading volume of 65,400 shares, compared to its average volume of 265,290. The company has a market cap of $3.83 billion, a P/E ratio of 21.86 and a beta of 1.00. IPG Photonics has a 12 month low of $61.86 and a 12 month high of $111.11. The business's 50-day simple moving average is $71.44 and its 200-day simple moving average is $79.23.

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

Institutional Trading of IPG Photonics

Several hedge funds have recently added to or reduced their stakes in IPGP. Swedbank AB bought a new position in IPG Photonics during the 1st quarter worth $2,687,000. M&G Plc acquired a new position in shares of IPG Photonics in the first quarter valued at about $15,929,000. Quadrature Capital Ltd bought a new position in IPG Photonics during the first quarter worth about $1,201,000. BNP Paribas Financial Markets raised its stake in IPG Photonics by 125.5% in the 1st quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company's stock worth $3,696,000 after purchasing an additional 22,680 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company's stock valued at $41,432,000 after purchasing an additional 10,775 shares during the period. 93.79% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.