Brokerages Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $77.00

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) has earned an average recommendation of "Hold" from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research 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 company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $69.50.

A number of brokerages have commented on IPGP. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research note on Monday, April 28th. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Citigroup cut their target price on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research report on Tuesday, February 18th. Raymond James lowered their price target on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a report on Wednesday. Finally, CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price objective on the stock in a report on Tuesday, March 18th.

IPG Photonics Price Performance

Shares of NASDAQ IPGP traded up $2.90 during trading hours on Friday, hitting $57.81. 832,650 shares of the company's stock were exchanged, compared to its average volume of 284,412. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -13.83 and a beta of 0.92. The company's 50-day moving average price is $59.18 and its 200-day moving average price is $68.87. IPG Photonics has a 1-year low of $48.59 and a 1-year high of $92.21.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The company had revenue of $227.79 million for the quarter, compared to the consensus estimate of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The business's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, research analysts expect that IPG Photonics will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

Several large investors have recently made changes to their positions in IPGP. Beaumont Financial Advisors LLC raised its position in IPG Photonics by 4.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company's stock worth $248,000 after acquiring an additional 139 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of IPG Photonics by 5.7% in the 4th quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company's stock valued at $222,000 after purchasing an additional 163 shares during the period. Waterfront Wealth Inc. lifted its stake in IPG Photonics by 1.6% in the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company's stock valued at $895,000 after purchasing an additional 190 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in IPG Photonics by 4.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company's stock worth $311,000 after purchasing an additional 194 shares during the period. Finally, Xponance Inc. increased its position in IPG Photonics by 7.6% during the fourth quarter. Xponance Inc. now owns 3,201 shares of the semiconductor company's stock worth $233,000 after buying an additional 226 shares during the last quarter. Institutional investors and hedge funds own 93.79% of the company's stock.

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.