IPG Photonics’ (IPGP) Hold Rating Reaffirmed at Benchmark

Benchmark reiterated their hold rating on shares of IPG Photonics (NASDAQ:IPGP) in a report released on Wednesday, Benzinga reports.

A number of other research firms have also recently issued reports on IPGP. Stifel Nicolaus lowered their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. Finally, Raymond James reduced their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Trading Up 1.6 %

NASDAQ:IPGP opened at $82.29 on Wednesday. IPG Photonics has a one year low of $61.86 and a one year high of $111.11. The company has a fifty day moving average price of $72.13 and a 200 day moving average price of $79.25.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis. On average, equities analysts expect that IPG Photonics will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On IPG Photonics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in IPG Photonics in the first quarter valued at about $52,000. Innealta Capital LLC bought a new stake in IPG Photonics during the 2nd quarter worth approximately $85,000. Assetmark Inc. increased its holdings in IPG Photonics by 28.3% during the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after purchasing an additional 295 shares in the last quarter. Covestor Ltd raised its position in IPG Photonics by 94.2% in the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in IPG Photonics by 97.6% in the first quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock worth $178,000 after purchasing an additional 970 shares in the last quarter. 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.