IPG Photonics (NASDAQ:IPGP) Trading 3.1% Higher – Time to Buy?

IPG Photonics Co. (NASDAQ:IPGP)’s share price traded up 3.1% on Tuesday . The company traded as high as $64.64 and last traded at $65.27. 39,974 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 256,226 shares. The stock had previously closed at $63.32.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Citigroup lowered their price objective on IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research report on Tuesday, February 18th. CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IPG Photonics has an average rating of “Hold” and a consensus target price of $85.40.

IPG Photonics Trading Up 4.5 %

The stock has a 50-day simple moving average of $67.33 and a 200 day simple moving average of $72.04. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -15.74 and a beta of 1.04.

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 18.58% and a positive return on equity of 2.98%. As a group, research analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several institutional investors and hedge funds have recently modified their holdings of IPGP. Pacific Heights Asset Management LLC increased its stake in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock valued at $22,107,000 after purchasing an additional 240,000 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after purchasing an additional 181,844 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in IPG Photonics by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after buying an additional 173,584 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in IPG Photonics by 437.2% in the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock worth $13,011,000 after buying an additional 145,616 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in IPG Photonics in the 4th quarter worth about $8,815,000. 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.