Citigroup Issues Pessimistic Forecast for IPG Photonics (NASDAQ:IPGP) Stock Price

IPG Photonics (NASDAQ:IPGP) had its target price decreased by research analysts at Citigroup from $62.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the semiconductor company’s stock. Citigroup’s price target points to a potential downside of 6.22% from the company’s current price.

Other research analysts also recently issued reports about the stock. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.75.

IPG Photonics Stock Performance

Shares of NASDAQ IPGP traded up $0.45 during midday trading on Tuesday, reaching $63.98. The company’s stock had a trading volume of 270,011 shares, compared to its average volume of 234,059. IPG Photonics has a fifty-two week low of $60.72 and a fifty-two week high of $92.21. The business’s 50 day moving average price is $72.87 and its two-hundred day moving average price is $73.03. The company has a market cap of $2.77 billion, a P/E ratio of -18.44 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts forecast that IPG Photonics will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in shares of IPG Photonics by 100.4% during the third quarter. Jane Street Group LLC now owns 21,771 shares of the semiconductor company’s stock worth $1,618,000 after buying an additional 10,906 shares in the last quarter. Barclays PLC increased its holdings in shares of IPG Photonics by 42.5% during the third quarter. Barclays PLC now owns 38,787 shares of the semiconductor company’s stock worth $2,883,000 after buying an additional 11,562 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of IPG Photonics by 8.9% during 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of IPG Photonics by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 151,142 shares of the semiconductor company’s stock worth $11,233,000 after purchasing an additional 28,003 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of IPG Photonics by 57.7% in the third quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company’s stock worth $1,728,000 after purchasing an additional 8,507 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

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.