IPG Photonics (NASDAQ:IPGP) Sets New 52-Week Low at $62.03

IPG Photonics Co. (NASDAQ:IPGP) reached a new 52-week low during trading on Monday . The stock traded as low as $62.03 and last traded at $62.50, with a volume of 21003 shares trading hands. The stock had previously closed at $62.84.

Analyst Upgrades and Downgrades

IPGP has been the topic of several research reports. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Raymond James lowered their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $93.40.

IPG Photonics Stock Down 0.3 %

The stock has a market cap of $2.76 billion, a P/E ratio of 16.06 and a beta of 1.00. The stock has a fifty day simple moving average of $75.80 and a 200-day simple moving average of $83.00.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03). IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm had revenue of $257.60 million for the quarter, compared to the consensus estimate of $259.31 million. During the same period in the previous year, the business earned $1.31 EPS. The firm’s revenue was down 24.2% compared to the same quarter last year. Sell-side analysts anticipate that IPG Photonics Co. will post 1.38 earnings per share for the current year.

Institutional Trading of IPG Photonics

Large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new position in IPG Photonics in the fourth quarter valued at about $40,000. Crewe Advisors LLC acquired a new position in shares of IPG Photonics in the 1st quarter valued at approximately $52,000. Mather Group LLC. bought a new stake in IPG Photonics during the 1st quarter worth approximately $67,000. Innealta Capital LLC acquired a new stake in IPG Photonics during the 2nd quarter worth approximately $85,000. Finally, TFO Wealth Partners LLC lifted its stake in IPG Photonics by 38,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after buying an additional 1,140 shares in the last quarter. 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.