Raymond James Cuts IPG Photonics (NASDAQ:IPGP) Price Target to $100.00

IPG Photonics (NASDAQ:IPGP) had its price objective decreased by Raymond James from $127.00 to $100.00 in a research note published on Wednesday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the semiconductor company’s stock.

Several other analysts have also recently commented on IPGP. Citigroup lowered their target price on shares of IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC restated a hold rating on shares of IPG Photonics in a report on Wednesday, May 1st. Stifel Nicolaus reduced their target price on shares of IPG Photonics from $115.00 to $100.00 and set a buy rating on the stock in a report on Wednesday. Finally, Benchmark lowered shares of IPG Photonics from a buy rating to a hold rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $93.40.

IPG Photonics Price Performance

Shares of IPGP opened at $71.38 on Wednesday. The firm has a 50 day simple moving average of $85.41 and a 200-day simple moving average of $88.67. IPG Photonics has a 1-year low of $70.68 and a 1-year high of $111.53. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 18.40 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, July 30th. The semiconductor company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.03). The firm had revenue of $257.60 million during the quarter, compared to analysts’ expectations of $259.31 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm’s revenue was down 24.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, equities analysts expect that IPG Photonics will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 38.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IPG Photonics

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new position in IPG Photonics during the 4th quarter worth approximately $40,000. Disciplined Equity Management Inc. acquired a new stake in shares of IPG Photonics during the fourth quarter worth $43,000. Crewe Advisors LLC acquired a new stake in shares of IPG Photonics during the first quarter worth $52,000. AM Squared Ltd lifted its holdings in IPG Photonics by 200.0% in the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 400 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of IPG Photonics during the first quarter valued at approximately $67,000. Institutional investors and hedge funds 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.