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

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

Several other equities research analysts have also recently weighed in on the company. Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $89.75.

IPG Photonics Stock Performance

IPGP opened at $63.53 on Wednesday. The stock has a fifty day moving average of $73.23 and a 200-day moving average of $73.23. IPG Photonics has a fifty-two week low of $60.72 and a fifty-two week high of $92.21. The company has a market capitalization of $2.75 billion, a P/E ratio of -18.31 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities research analysts predict that IPG Photonics will post 1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in IPG Photonics by 212.7% in the 4th quarter. Jane Street Group LLC now owns 68,079 shares of the semiconductor company’s stock valued at $4,951,000 after acquiring an additional 46,308 shares during the period. Northern Trust Corp increased its holdings in IPG Photonics by 17.6% in the fourth quarter. Northern Trust Corp now owns 224,959 shares of the semiconductor company’s stock valued at $16,359,000 after purchasing an additional 33,601 shares during the period. Two Sigma Securities LLC bought a new position in IPG Photonics during the 4th quarter worth $278,000. Adage Capital Partners GP L.L.C. lifted its holdings in IPG Photonics by 9.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 115,099 shares of the semiconductor company’s stock worth $8,370,000 after buying an additional 10,000 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of IPG Photonics by 2.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 22,080 shares of the semiconductor company’s stock valued at $1,606,000 after buying an additional 630 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

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.