Fintel reports that on August 2, 2023, Raymond James upgraded their outlook for IPG Photonics (NASDAQ:IPGP) from Outperform to Strong Buy.
Analyst Price Forecast Suggests 7.19% Upside
As of August 2, 2023, the average one-year price target for IPG Photonics is 140.91. The forecasts range from a low of 113.12 to a high of $178.50. The average price target represents an increase of 7.19% from its latest reported closing price of 131.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for IPG Photonics is 1,457MM, an increase of 6.37%. The projected annual non-GAAP EPS is 4.93.
What is the Fund Sentiment?
There are 663 funds or institutions reporting positions in IPG Photonics. This is an increase of 19 owner(s) or 2.95% in the last quarter. Average portfolio weight of all funds dedicated to IPGP is 0.18%, a decrease of 1.08%. Total shares owned by institutions decreased in the last three months by 3.17% to 34,910K shares. The put/call ratio of IPGP is 4.35, indicating a bearish outlook.
What are Other Shareholders Doing?
First Eagle Investment Management holds 4,330K shares representing 9.15% ownership of the company. In it’s prior filing, the firm reported owning 4,326K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in IPGP by 25.24% over the last quarter.
SGENX – First Eagle Global Fund holds 3,097K shares representing 6.55% ownership of the company. No change in the last quarter.
Lazard Asset Management holds 1,087K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 1,104K shares, representing a decrease of 1.57%. The firm increased its portfolio allocation in IPGP by 22.01% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 992K shares representing 2.10% ownership of the company. In it’s prior filing, the firm reported owning 993K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in IPGP by 24.54% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 975K shares representing 2.06% ownership of the company. In it’s prior filing, the firm reported owning 1,024K shares, representing a decrease of 5.02%. The firm increased its portfolio allocation in IPGP by 8.88% over the last quarter.
IPG Photonics Background Information
(This description is provided by the company.)
IPG Photonics is an American manufacturer of fiber lasers. IPG Photonics developed and commercialized optical fiber lasers, which are used in a variety of applications including materials processing, medical applications and telecommunications.
This article originally appeared on Fintel
ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
