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

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

IPGP has been the subject of a number of other reports. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IPG Photonics has a consensus rating of “Hold” and an average price target of $89.75.

IPG Photonics Stock Down 1.2 %

Shares of IPGP stock opened at $62.97 on Wednesday. The company has a 50 day moving average of $73.74 and a 200-day moving average of $73.47. IPG Photonics has a 12-month low of $60.72 and a 12-month high of $101.94. The firm has a market cap of $2.72 billion, a P/E ratio of -18.15 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. As a group, equities analysts expect that IPG Photonics will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of IPG Photonics by 56.7% during 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 in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 818 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of IPG Photonics by 463.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $77,000 after acquiring an additional 876 shares during the last quarter. KBC Group NV lifted its holdings in shares of IPG Photonics by 50.6% during the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 365 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of IPG Photonics during the 4th quarter worth $87,000. 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.