Stifel Nicolaus Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $100.00

IPG Photonics (NASDAQ:IPGP) had its target price cut by Stifel Nicolaus from $115.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 22.97% from the company’s current price.

Several other research firms have also recently commented on IPGP. Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, Citigroup reduced their price target on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $107.40.

IPG Photonics Trading Up 0.1 %

IPGP stock traded up $0.12 on Wednesday, hitting $81.32. The company’s stock had a trading volume of 71,359 shares, compared to its average volume of 265,441. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 20.96 and a beta of 1.01. The firm has a 50 day moving average of $85.74 and a two-hundred day moving average of $88.81. IPG Photonics has a 1 year low of $79.80 and a 1 year high of $132.99.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The business had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the company posted $1.31 earnings per share. As a group, equities analysts forecast that IPG Photonics will post 2.77 EPS for the current fiscal year.

Insider Transactions at IPG Photonics

In other news, Director Jeanmarie F. Desmond sold 985 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the transaction, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 38.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in IPG Photonics during the 4th quarter valued at about $36,365,000. Raymond James & Associates boosted its position in IPG Photonics by 1,349.8% in the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock valued at $4,872,000 after buying an additional 41,791 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of IPG Photonics during the fourth quarter worth $1,640,000. ARGA Investment Management LP acquired a new position in shares of IPG Photonics during the fourth quarter valued at $1,067,000. Finally, Partnership Wealth Management LLC boosted its holdings in IPG Photonics by 382.7% in the first quarter. Partnership Wealth Management LLC now owns 17,561 shares of the semiconductor company’s stock valued at $1,593,000 after acquiring an additional 13,923 shares during the last quarter. 93.79% of the stock is currently 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.