IPG Photonics (NASDAQ:IPGP) Rating Increased to Hold at StockNews.com

IPG Photonics (NASDAQ:IPGP - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Thursday.

IPGP has been the topic of several other research reports. CL King raised shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 price target on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research note on Monday, April 28th. Citigroup lowered their target price on shares of IPG Photonics from $62.00 to $60.00 and set a "sell" rating for the company in a research note on Tuesday, February 18th. Raymond James decreased their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research note on Wednesday, May 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $69.50.

IPG Photonics Stock Down 0.2%

IPG Photonics stock traded down $0.12 during mid-day trading on Thursday, reaching $65.39. 2,578 shares of the company's stock traded hands, compared to its average volume of 286,205. IPG Photonics has a 12-month low of $48.59 and a 12-month high of $92.21. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -15.61 and a beta of 0.92. The stock has a 50 day moving average of $59.65 and a two-hundred day moving average of $67.82.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $227.79 million for the quarter, compared to analysts' expectations of $227.00 million. IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. The company's revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. As a group, sell-side analysts forecast that IPG Photonics will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of institutional investors have recently made changes to their positions in IPGP. Jane Street Group LLC lifted its stake in IPG Photonics by 79.4% in the first quarter. Jane Street Group LLC now owns 122,105 shares of the semiconductor company's stock valued at $7,710,000 after buying an additional 54,026 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of IPG Photonics by 0.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,469 shares of the semiconductor company's stock worth $5,523,000 after acquiring an additional 744 shares during the last quarter. S Squared Technology LLC purchased a new position in IPG Photonics in the 1st quarter worth about $4,348,000. Caxton Associates LLP purchased a new stake in shares of IPG Photonics in the first quarter valued at $1,662,000. Finally, Fred Alger Management LLC acquired a new position in shares of IPG Photonics in the first quarter worth $258,000. 93.79% of the stock is owned by institutional investors and hedge funds.

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.