Analysts Set IPG Photonics Co. (NASDAQ:IPGP) Price Target at $69.50

Shares of IPG Photonics Co. (NASDAQ:IPGP - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $69.50.

A number of brokerages recently commented on IPGP. Needham & Company LLC reissued a "hold" rating on shares of IPG Photonics in a report on Wednesday, February 12th. Stifel Nicolaus set a $72.00 target price on IPG Photonics in a research note on Monday, April 28th. Wall Street Zen raised shares of IPG Photonics from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Raymond James cut their price target on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Wednesday, May 7th. 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 research note on Tuesday, March 18th.

IPG Photonics Stock Performance

Shares of IPGP stock traded down $1.42 on Thursday, hitting $65.62. The stock had a trading volume of 556,723 shares, compared to its average volume of 292,786. The stock's 50 day moving average is $59.90 and its 200-day moving average is $66.99. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -15.70 and a beta of 0.92. IPG Photonics has a 52-week low of $48.59 and a 52-week high of $92.21.

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

IPG Photonics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.01%.

Hedge Funds Weigh In On IPG Photonics

A number of hedge funds have recently added to or reduced their stakes in IPGP. Barclays PLC lifted its position in shares of IPG Photonics by 42.5% in the 3rd quarter. Barclays PLC now owns 38,787 shares of the semiconductor company's stock worth $2,883,000 after buying an additional 11,562 shares during the last quarter. KBC Group NV raised its stake in IPG Photonics by 48.5% during the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock worth $117,000 after acquiring an additional 527 shares during the period. Calamos Wealth Management LLC raised its stake in IPG Photonics by 4.0% during the fourth quarter. Calamos Wealth Management LLC now owns 6,237 shares of the semiconductor company's stock worth $454,000 after acquiring an additional 237 shares during the period. Retirement Systems of Alabama lifted its holdings in IPG Photonics by 437.2% in the fourth quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock worth $13,011,000 after acquiring an additional 145,616 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company's stock valued at $72,694,000 after acquiring an additional 28,606 shares during the period. Institutional investors and hedge funds 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.