IPG Photonics (NASDAQ:IPGP) Shares Gap Up – Here’s What Happened

IPG Photonics Co. (NASDAQ:IPGP) shares gapped up before the market opened on Tuesday . The stock had previously closed at $67.40, but opened at $69.77. IPG Photonics shares last traded at $67.14, with a volume of 34,241 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IPGP. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IPG Photonics currently has an average rating of “Hold” and a consensus target price of $89.75.

IPG Photonics Trading Down 1.2 %

The business has a 50-day moving average of $73.74 and a 200 day moving average of $73.47. The firm has a market capitalization of $2.72 billion, a P/E ratio of -18.15 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data 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 negative net margin of 14.20% and a positive return on equity of 4.32%. As a group, research analysts forecast that IPG Photonics Co. will post 1.47 EPS for the current year.

Institutional Investors Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently made changes to their positions in IPGP. Sumitomo Mitsui Trust Group Inc. lifted its position in IPG Photonics by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,649 shares of the semiconductor company’s stock valued at $72,694,000 after acquiring an additional 28,606 shares in the last quarter. Pacer Advisors Inc. increased its stake in IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock valued at $49,871,000 after buying an additional 181,844 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in IPG Photonics by 8.9% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock valued at $39,749,000 after buying an additional 43,874 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of IPG Photonics by 34.0% in the 4th quarter. Baillie Gifford & Co. now owns 375,546 shares of the semiconductor company’s stock worth $27,310,000 after buying an additional 95,199 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of IPG Photonics by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,620 shares of the semiconductor company’s stock valued at $26,879,000 after acquiring an additional 19,307 shares in the last quarter. 93.79% of the stock is owned by institutional investors.

About IPG Photonics

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.