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.

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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

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