IPG Photonics (NASDAQ:IPGP) Upgraded at StockNews.com

StockNews.com upgraded shares of IPG Photonics (NASDAQ:IPGP) from a sell rating to a hold rating in a research report report published on Thursday morning.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus set a $72.00 price objective on shares of IPG Photonics in a report on Monday, April 28th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Citigroup decreased their price objective on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a report 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 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 for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $69.50.

IPG Photonics Stock Performance

IPGP stock opened at $66.49 on Thursday. The firm has a 50 day moving average price of $59.54 and a 200-day moving average price of $68.03. IPG Photonics has a 52-week low of $48.59 and a 52-week high of $92.21. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -15.91 and a beta of 0.92.

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

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its stake in IPG Photonics by 1,918.3% during the 1st quarter. Alliancebernstein L.P. now owns 1,429,241 shares of the semiconductor company’s stock valued at $90,242,000 after buying an additional 1,358,428 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in IPG Photonics by 14.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock valued at $98,335,000 after buying an additional 173,584 shares during the last quarter. Lazard Asset Management LLC raised its stake in IPG Photonics by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock valued at $77,751,000 after buying an additional 9,852 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in IPG Photonics by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock valued at $72,694,000 after buying an additional 28,606 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of IPG Photonics by 188.6% in the 1st quarter. AQR Capital Management LLC now owns 636,804 shares of the semiconductor company’s stock worth $40,208,000 after purchasing an additional 416,186 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other 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.