IPG Photonics (NASDAQ:IPGP) Price Target Cut to $105.00 by Analysts at Needham & Company LLC

IPG Photonics (NASDAQ:IPGP) had its price target decreased by Needham & Company LLC from $120.00 to $105.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC‘s target price indicates a potential upside of 41.09% from the stock’s previous close.

IPGP has been the subject of several other research reports. Citigroup decreased their target price on IPG Photonics from $150.00 to $137.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of IPG Photonics in a research report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.60.

IPG Photonics Price Performance

IPGP stock opened at $74.42 on Wednesday. IPG Photonics has a 52-week low of $68.27 and a 52-week high of $155.82. The company’s 50 day simple moving average is $76.45 and its 200-day simple moving average is $100.76. The firm has a market capitalization of $3.17 billion, a P/E ratio of 43.40, a P/E/G ratio of 1.75 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. IPG Photonics had a net margin of 2.58% and a return on equity of 3.39%. The firm had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue was up 14.6% on a year-over-year basis. Sell-side analysts predict that IPG Photonics will post 1.86 EPS for the current fiscal year.

Insider Activity at IPG Photonics

In other news, Director John R. Peeler acquired 2,710 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $73.58 per share, for a total transaction of $199,401.80. Following the completion of the acquisition, the director owned 20,886 shares in the company, valued at approximately $1,536,791.88. The trade was a 14.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene A. Scherbakov sold 3,048 shares of IPG Photonics stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $85.30, for a total value of $259,994.40. Following the sale, the director directly owned 45,162 shares of the company’s stock, valued at approximately $3,852,318.60. The trade was a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 45,806 shares of company stock valued at $3,641,659. Insiders own 37.50% of the company’s stock.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently made changes to their positions in IPGP. MCF Advisors LLC bought a new stake in shares of IPG Photonics in the 2nd quarter valued at approximately $38,000. Versant Capital Management Inc raised its position in IPG Photonics by 42.2% during the third quarter. Versant Capital Management Inc now owns 495 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 147 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in IPG Photonics by 43.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 552 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 166 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in IPG Photonics by 83.9% in the third quarter. Farther Finance Advisors LLC now owns 524 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 239 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in IPG Photonics by 206.1% in the third quarter. IFP Advisors Inc now owns 704 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 474 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about IPG Photonics

Here are the key news stories impacting IPG Photonics this week:

• Positive Sentiment: IPG Photonics earned $0.61 per share, above the $0.49 consensus estimate and up from $0.35 a year earlier. Revenue was $287.5 million, topping the $283.31 million estimate and rising 14.6% year over year. The earnings and sales beats are likely supporting investor sentiment. Zacks earnings report
• Positive Sentiment: Coverage of the Q3 earnings call characterized the discussion as signaling broad growth momentum, adding to the upbeat read-through from the results. Earnings call coverage
• Neutral Sentiment: Despite the stronger results, the company’s reported net margin was 2.58%, so investors may continue to monitor profitability as growth develops.

About IPG Photonics

IPG Photonics Corporation (NASDAQ:IPGP) develops and manufactures high-performance fiber lasers, laser systems, optical amplifiers and related components. Its product portfolio includes single-mode and multi-mode fiber lasers, pulsed lasers, diode lasers, beam-delivery systems and other specialized photonics products.

The company’s technologies are used primarily for industrial materials processing applications, including cutting, welding, marking, drilling, cladding and additive manufacturing.