Stifel Nicolaus Has Lowered Expectations for IPG Photonics (NASDAQ:IPGP) Stock Price

IPG Photonics (NASDAQ:IPGP) had its price target reduced by equities researchers at Stifel Nicolaus from $100.00 to $85.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 35.18% from the company’s previous close.

Several other brokerages have also commented on IPGP. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.75.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $62.88 on Wednesday. IPG Photonics has a 12-month low of $60.72 and a 12-month high of $92.21. The company has a market capitalization of $2.72 billion, a PE ratio of -18.12 and a beta of 0.95. The firm’s 50-day moving average is $73.74 and its two-hundred day moving average is $73.47.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. On average, analysts forecast that IPG Photonics will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of IPG Photonics by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock worth $72,694,000 after buying an additional 28,606 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of IPG Photonics by 37.2% in the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after buying an additional 181,844 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in shares of IPG Photonics by 8.9% in the third quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock worth $39,749,000 after buying an additional 43,874 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of IPG Photonics by 34.0% in the fourth quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after buying an additional 95,199 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of IPG Photonics by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company’s stock worth $26,879,000 after purchasing an additional 19,307 shares during the period. 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.