IPG Photonics (NASDAQ:IPGP) Reaches New 52-Week Low – Here’s Why

IPG Photonics Co. (NASDAQ:IPGP) hit a new 52-week low during trading on Wednesday . The company traded as low as $48.59 and last traded at $55.07, with a volume of 136651 shares trading hands. The stock had previously closed at $49.68.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IPGP. CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Tuesday, March 18th. Citigroup cut their price objective on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus lowered their target price on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $85.40.

IPG Photonics Stock Up 1.7 %

The firm’s 50 day moving average is $61.74 and its 200-day moving average is $70.95. The firm has a market cap of $2.29 billion, a PE ratio of -12.86 and a beta of 0.97.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. On average, analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in shares of IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 345 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 818 shares during the last quarter. SRS Capital Advisors Inc. grew its position in IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 876 shares during the period. Headlands Technologies LLC acquired a new stake in IPG Photonics during the fourth quarter worth about $87,000. Finally, KBC Group NV raised its holdings in shares of IPG Photonics by 48.5% in the 4th quarter. KBC Group NV now owns 1,613 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 527 shares during the period. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

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.