IPG Photonics (NASDAQ:IPGP) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of IPG Photonics (NASDAQ:IPGP) in a report issued on Wednesday,Benzinga reports.

Other 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 note on Wednesday, December 4th. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.75.

IPG Photonics Stock Down 1.2 %

IPG Photonics stock opened at $62.97 on Wednesday. The company has a market capitalization of $2.72 billion, a PE ratio of -18.15 and a beta of 0.95. The firm has a fifty day simple moving average of $73.74 and a two-hundred day simple moving average of $73.47. IPG Photonics has a twelve month low of $60.72 and a twelve month high of $101.94.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly 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 4.32% and a negative net margin of 14.20%. As a group, equities analysts expect that IPG Photonics will post 1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently modified their holdings of IPGP. Versant Capital Management Inc increased its position in shares of IPG Photonics by 56.7% during the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 345 shares during the period. Venturi Wealth Management LLC increased its position in shares of IPG Photonics by 355.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 818 shares during the period. SRS Capital Advisors Inc. increased its position in shares of 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 buying an additional 876 shares during the period. KBC Group NV increased its position in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after buying an additional 365 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of IPG Photonics during the fourth quarter valued at about $87,000. Hedge funds and other 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.