Needham & Company LLC Reiterates Hold Rating for IPG Photonics (NASDAQ:IPGP)

IPG Photonics (NASDAQ:IPGP)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

IPGP has been the topic of several other research reports. Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One equities 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 given a strong buy rating to the stock. According to MarketBeat, IPG Photonics has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Stock Down 5.5 %

IPG Photonics stock opened at $63.72 on Wednesday. The business’s 50-day simple moving average is $73.98 and its 200 day simple moving average is $73.55. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -18.36 and a beta of 0.95. IPG Photonics has a 12-month low of $61.63 and a 12-month high of $104.19.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that IPG Photonics will post 1.47 EPS for the current year.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently bought and sold shares of IPGP. Sanctuary Advisors LLC acquired a new stake in IPG Photonics in the 2nd quarter valued at approximately $223,000. CWM LLC increased its position in shares of IPG Photonics by 226.4% during the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares during the last quarter. Inspire Investing LLC increased its position in shares of IPG Photonics by 31.0% during the 3rd quarter. Inspire Investing LLC now owns 6,156 shares of the semiconductor company’s stock worth $458,000 after purchasing an additional 1,456 shares during the last quarter. Creative Planning increased its position in shares of IPG Photonics by 93.3% during the 3rd quarter. Creative Planning now owns 6,071 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of IPG Photonics by 10.0% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 76,752 shares of the semiconductor company’s stock worth $5,704,000 after purchasing an additional 7,009 shares during the last quarter. 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.