IPG Photonics (IPGP) PT Lowered to $170.00 at Benchmark

IPG Photonics (NASDAQ:IPGP) had its price target reduced by Benchmark from $222.00 to $170.00 in a report released on Monday, MarketBeat reports. Benchmark currently has a buy rating on the semiconductor company’s stock.

IPGP has been the topic of several other research reports. Dougherty & Co reissued a buy rating on shares of IPG Photonics in a report on Tuesday, August 21st. ValuEngine lowered IPG Photonics from a hold rating to a sell rating in a report on Tuesday, September 4th. Northcoast Research reissued a buy rating and set a $208.00 price objective on shares of IPG Photonics in a report on Thursday, August 2nd. Zacks Investment Research lowered IPG Photonics from a buy rating to a hold rating in a report on Tuesday, July 3rd. Finally, Needham & Company LLC decreased their price objective on IPG Photonics from $280.00 to $215.00 and set a buy rating on the stock in a report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. IPG Photonics currently has a consensus rating of Hold and an average target price of $223.25.

Shares of NASDAQ:IPGP opened at $135.43 on Monday. IPG Photonics has a 1-year low of $130.32 and a 1-year high of $264.11. The company has a market cap of $8.39 billion, a PE ratio of 18.71, a PEG ratio of 1.62 and a beta of 1.80. The company has a current ratio of 8.73, a quick ratio of 6.94 and a debt-to-equity ratio of 0.02.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.22 by ($0.01). IPG Photonics had a return on equity of 21.55% and a net margin of 25.96%. The firm had revenue of $413.61 million for the quarter, compared to analyst estimates of $418.61 million. During the same period in the previous year, the business posted $1.91 EPS. IPG Photonics’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that IPG Photonics will post 8.02 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Sturgeon Ventures LLP lifted its position in shares of IPG Photonics by 13.4% during the 2nd quarter. Sturgeon Ventures LLP now owns 20,754 shares of the semiconductor company’s stock worth $4,556,000 after buying an additional 2,454 shares during the period. Teacher Retirement System of Texas lifted its position in shares of IPG Photonics by 14.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 33,345 shares of the semiconductor company’s stock worth $7,357,000 after buying an additional 4,233 shares during the period. Redwood Investments LLC bought a new position in shares of IPG Photonics during the 2nd quarter worth approximately $490,000. Janus Henderson Group PLC lifted its position in shares of IPG Photonics by 47.7% during the 2nd quarter. Janus Henderson Group PLC now owns 593,969 shares of the semiconductor company’s stock worth $131,048,000 after buying an additional 191,959 shares during the period. Finally, Rampart Investment Management Company LLC lifted its position in shares of IPG Photonics by 20,205.1% during the 2nd quarter. Rampart Investment Management Company LLC now owns 7,919 shares of the semiconductor company’s stock worth $1,747,000 after buying an additional 7,880 shares during the period. Institutional investors and hedge funds own 58.36% of the company’s stock.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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