IPG Photonics (IPGP) Price Target Raised to $185.00

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IPG Photonics (NASDAQ:IPGP) had its price target hoisted by Needham & Company LLC from $170.00 to $185.00 in a report issued on Wednesday morning, Briefing.com Automated Import reports. They currently have a buy rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the company. TheStreet raised IPG Photonics from a c+ rating to a b- rating in a research report on Tuesday, February 26th. Benchmark reiterated a buy rating and issued a $165.00 price objective on shares of IPG Photonics in a research report on Thursday, February 14th. Raymond James cut their price objective on shares of IPG Photonics from $190.00 to $180.00 and set a buy rating on the stock in a research report on Wednesday, February 13th. DA Davidson cut their price objective on shares of IPG Photonics to $175.00 and set a buy rating on the stock in a research report on Wednesday, February 13th. Finally, Cascend Securities assumed coverage on shares of IPG Photonics in a research report on Monday, February 11th. They issued a buy rating and a $160.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $193.91.

Shares of NASDAQ:IPGP traded down $1.15 during midday trading on Wednesday, hitting $169.69. 19,813 shares of the stock were exchanged, compared to its average volume of 458,509. The stock has a market cap of $9.28 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 4.10 and a beta of 1.87. The company has a current ratio of 8.54, a quick ratio of 5.70 and a debt-to-equity ratio of 0.02. IPG Photonics has a 12 month low of $104.64 and a 12 month high of $261.77.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.02). The firm had revenue of $315.00 million for the quarter, compared to the consensus estimate of $308.75 million. IPG Photonics had a return on equity of 16.09% and a net margin of 24.94%. The business’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 earnings per share. As a group, equities analysts forecast that IPG Photonics will post 5.79 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. raised its position in shares of IPG Photonics by 0.3% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 21,922 shares of the semiconductor company’s stock worth $3,328,000 after buying an additional 60 shares in the last quarter. ETF Managers Group LLC raised its position in shares of IPG Photonics by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 553 shares of the semiconductor company’s stock worth $63,000 after buying an additional 75 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of IPG Photonics by 1.3% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,068 shares of the semiconductor company’s stock worth $921,000 after buying an additional 78 shares in the last quarter. Malaga Cove Capital LLC raised its position in shares of IPG Photonics by 1.7% during the 1st quarter. Malaga Cove Capital LLC now owns 5,730 shares of the semiconductor company’s stock worth $870,000 after buying an additional 97 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in shares of IPG Photonics by 1.5% during the 4th quarter. APG Asset Management N.V. now owns 6,900 shares of the semiconductor company’s stock worth $684,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

IPG Photonics Company Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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