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

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

IPGP has been the subject of several other reports. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IPG Photonics currently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Trading Down 5.5 %

Shares of NASDAQ IPGP opened at $63.72 on Wednesday. IPG Photonics has a 12 month low of $61.63 and a 12 month high of $104.19. The stock has a 50 day moving average of $73.98 and a 200-day moving average of $73.55. The company has a market capitalization of $2.76 billion, a P/E ratio of -18.36 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 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%. Analysts predict that IPG Photonics will post 1.47 EPS for the current fiscal year.

Institutional Trading of IPG Photonics

A number of institutional investors have recently modified their holdings of IPGP. Sanctuary Advisors LLC bought a new stake in shares of IPG Photonics during the 2nd quarter valued at $223,000. CWM LLC raised its holdings 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 buying an additional 1,689 shares in the last quarter. Inspire Investing LLC raised its holdings 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 buying an additional 1,456 shares in the last quarter. Creative Planning raised its holdings 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 buying an additional 2,931 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings 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 buying an additional 7,009 shares in the last quarter. 93.79% of the stock is currently owned by institutional investors.

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.