IPG Photonics (NASDAQ:IPGP) Price Target Lowered to $70.00 at Raymond James

IPG Photonics (NASDAQ:IPGP) had its price target decreased by Raymond James from $80.00 to $70.00 in a report published on Wednesday,Benzinga reports. Raymond James currently has a strong-buy rating on the semiconductor company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. Stifel Nicolaus set a $72.00 price target on IPG Photonics in a research note on Monday, April 28th. CL King upgraded IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Citigroup dropped their target price on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.50.

IPG Photonics Trading Up 2.4 %

Shares of IPGP opened at $60.15 on Wednesday. IPG Photonics has a 12 month low of $48.59 and a 12 month high of $92.21. The business’s fifty day simple moving average is $59.17 and its two-hundred day simple moving average is $68.58. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -14.39 and a beta of 0.92.

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

Institutional Trading of IPG Photonics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC bought a new position in shares of IPG Photonics during the 1st quarter valued at approximately $39,000. UMB Bank n.a. raised its stake in IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 329 shares during the period. Venturi Wealth Management LLC lifted its holdings in IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 818 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 876 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of IPG Photonics in the fourth quarter worth $87,000. Hedge funds and other institutional investors 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.