IPG Photonics (NASDAQ:IPGP) Given New $85.00 Price Target at Stifel Nicolaus

IPG Photonics (NASDAQ:IPGP - Free Report) had its price target cut by Stifel Nicolaus from $100.00 to $85.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

A number of other research firms have also recently issued reports on IPGP. Northcoast Research cut shares of 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 note on Wednesday, October 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, IPG Photonics currently has an average rating of "Hold" and a consensus target price of $89.75.

IPG Photonics Price Performance

IPGP traded up $0.65 during trading on Wednesday, hitting $63.53. The company had a trading volume of 271,336 shares, compared to its average volume of 155,315. The company has a market cap of $2.75 billion, a PE ratio of -18.31 and a beta of 0.95. IPG Photonics has a 1-year low of $60.72 and a 1-year high of $92.21. The business has a 50-day moving average of $73.23 and a 200-day moving average of $73.18.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last announced its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. Research analysts forecast that IPG Photonics will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Pacific Heights Asset Management LLC raised 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 valued at $22,107,000 after buying an additional 240,000 shares in the last quarter. Pacer Advisors Inc. raised its stake in IPG Photonics by 37.2% during the third 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 stake in shares of IPG Photonics by 14.7% in the fourth 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 increased its position in IPG Photonics by 437.2% during the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock valued at $13,011,000 after acquiring an additional 145,616 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IPG Photonics during the fourth quarter valued at about $8,815,000. 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.