IPG Photonics (NASDAQ:IPGP) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm presently has a $200.00 price target on the semiconductor company’s stock. Bank of America‘s price target would suggest a potential upside of 10.18% from the stock’s previous close.

Several other research analysts also recently commented on the company. TheStreet downgraded IPG Photonics from a “b-” rating to a “c+” rating in a research note on Friday, December 28th. BidaskClub upgraded IPG Photonics from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 10th. Benchmark reiterated a “buy” rating and set a $165.00 target price on shares of IPG Photonics in a research note on Thursday, February 14th. Cascend Securities began coverage on IPG Photonics in a research note on Monday, February 11th. They set a “buy” rating and a $160.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $170.00 price target (up from $157.00) on shares of IPG Photonics in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. IPG Photonics has a consensus rating of “Buy” and an average target price of $180.13.

Shares of NASDAQ IPGP traded up $2.83 during midday trading on Monday, hitting $181.52. 25,503 shares of the company’s stock were exchanged, compared to its average volume of 442,820. The company has a current ratio of 7.35, a quick ratio of 5.70 and a debt-to-equity ratio of 0.02. IPG Photonics has a 12 month low of $104.64 and a 12 month high of $261.77. The company has a market capitalization of $9.46 billion, a P/E ratio of 24.40, a P/E/G ratio of 4.12 and a beta of 1.84.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, February 12th. The semiconductor company reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.03). IPG Photonics had a return on equity of 18.66% and a net margin of 27.67%. The business had revenue of $330.10 million for the quarter, compared to the consensus estimate of $314.91 million. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. Analysts predict that IPG Photonics will post 5.79 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of IPG Photonics by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 361,649 shares of the semiconductor company’s stock worth $56,442,000 after buying an additional 4,215 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in IPG Photonics by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 317,232 shares of the semiconductor company’s stock worth $49,515,000 after purchasing an additional 1,580 shares during the last quarter. Renaissance Technologies LLC bought a new stake in IPG Photonics in the third quarter worth about $21,069,000. Pacer Advisors Inc. lifted its stake in IPG Photonics by 28.0% in the third quarter. Pacer Advisors Inc. now owns 2,162 shares of the semiconductor company’s stock worth $337,000 after purchasing an additional 473 shares during the last quarter. Finally, Man Group plc lifted its stake in IPG Photonics by 232.1% in the third quarter. Man Group plc now owns 4,500 shares of the semiconductor company’s stock worth $702,000 after purchasing an additional 3,145 shares during the last quarter. 67.33% of the stock is owned by institutional investors.

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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Analyst Recommendations for IPG Photonics (NASDAQ:IPGP)

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