IPG Photonics (NASDAQ:IPGP) Upgraded at Sanford C. Bernstein

Key Points

• IPG Photonics has been upgraded to an "outperform" rating by Sanford C. Bernstein, with a price target of $97.00, indicating a potential upside of 34.46% from its previous close.
• The company recently reported earnings of $0.30 per share for the last quarter, significantly beating analysts' expectations of $0.10, although revenue was down 2.7% year-over-year.
• IPG Photonics' stock is largely held by institutional investors, with 93.79% of shares owned by this group, indicating strong confidence in the company's prospects.

IPG Photonics (NASDAQ:IPGP - Get Free Report) was upgraded by Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a note issued to investors on Thursday,Finviz reports. The firm presently has a $97.00 price target on the semiconductor company's stock. Sanford C. Bernstein's price target points to a potential upside of 34.46% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. Wall Street Zen upgraded shares of IPG Photonics from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Raymond James Financial reduced their price target on shares of IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, IPG Photonics has an average rating of "Hold" and a consensus price target of $75.00.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP opened at $72.14 on Thursday. The stock has a market cap of $3.07 billion, a P/E ratio of -14.72, a P/E/G ratio of 12.02 and a beta of 0.88. The firm has a 50 day moving average price of $71.53 and a 200 day moving average price of $65.80. IPG Photonics has a 52-week low of $48.59 and a 52-week high of $88.50.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.20. The firm had revenue of $250.72 million during the quarter, compared to analysts' expectations of $228.20 million. IPG Photonics had a negative net margin of 22.77% and a positive return on equity of 2.25%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. Analysts predict that IPG Photonics will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of IPG Photonics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IPGP. Alliancebernstein L.P. raised its position in IPG Photonics by 1,918.3% during the first quarter. Alliancebernstein L.P. now owns 1,429,241 shares of the semiconductor company's stock worth $90,242,000 after acquiring an additional 1,358,428 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of IPG Photonics by 85.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,774,660 shares of the semiconductor company's stock valued at $121,830,000 after purchasing an additional 819,575 shares during the period. AQR Capital Management LLC raised its position in shares of IPG Photonics by 188.6% in the first quarter. AQR Capital Management LLC now owns 636,804 shares of the semiconductor company's stock valued at $40,208,000 after purchasing an additional 416,186 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of IPG Photonics in the first quarter valued at about $11,516,000. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $98,335,000 after purchasing an additional 173,584 shares during the period. 93.79% of the stock is owned by institutional investors.

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.

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