IPG Photonics (NASDAQ:IPGP) Sets New 12-Month Low at $62.03

IPG Photonics Co. (NASDAQ:IPGP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $62.03 and last traded at $62.50, with a volume of 21003 shares traded. The stock had previously closed at $62.84.

Analyst Ratings Changes

Several research analysts have recently issued reports on IPGP shares. Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Raymond James decreased their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IPG Photonics presently has a consensus rating of “Hold” and a consensus target price of $93.40.

IPG Photonics Trading Down 0.3 %

The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 16.06 and a beta of 1.00. The stock has a fifty day moving average price of $75.80 and a 200-day moving average price of $83.00.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company had revenue of $257.60 million for the quarter, compared to the consensus estimate of $259.31 million. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue was down 24.2% compared to the same quarter last year. On average, equities analysts expect that IPG Photonics Co. will post 1.38 EPS for the current year.

Institutional Investors Weigh In On IPG Photonics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of IPG Photonics by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after purchasing an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after acquiring an additional 125,958 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in IPG Photonics by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after acquiring an additional 11,548 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its position in IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after acquiring an additional 10,775 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of IPG Photonics by 58.7% during the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after purchasing an additional 180,951 shares during the last quarter. 93.79% of the stock is 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.