IPG Photonics (NASDAQ:IPGP) Trading 3.1% Higher – Here’s Why

Shares of IPG Photonics Co. (NASDAQ:IPGP) traded up 3.1% on Tuesday . The company traded as high as $64.64 and last traded at $65.27. 39,974 shares were traded during trading, a decline of 84% from the average session volume of 256,226 shares. The stock had previously closed at $63.32.

Wall Street Analyst Weigh In

A number of brokerages have commented on IPGP. Citigroup cut their price target on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating for the company in a research note on Tuesday, February 18th. Stifel Nicolaus cut their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, CL King upgraded shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $85.40.

IPG Photonics Price Performance

The business’s 50 day moving average price is $67.00 and its 200-day moving average price is $71.98. The company has a market cap of $2.82 billion, a P/E ratio of -15.85 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a negative net margin of 18.58% and a positive return on equity of 2.98%. As a group, research analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of IPGP. Dimensional Fund Advisors LP raised its position in IPG Photonics by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after purchasing an additional 173,584 shares during the last quarter. Lazard Asset Management LLC raised its position in IPG Photonics by 0.9% in the 4th quarter. Lazard Asset Management LLC now owns 1,069,193 shares of the semiconductor company’s stock worth $77,751,000 after purchasing an additional 9,852 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised 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 worth $72,694,000 after purchasing an additional 28,606 shares during the last quarter. Pacer Advisors Inc. raised its position in IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after purchasing an additional 181,844 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position 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 worth $39,749,000 after purchasing an additional 43,874 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

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.