IPG Photonics (NASDAQ:IPGP) Trading 3.8% Higher – Here’s What Happened

Shares of IPG Photonics Co. (NASDAQ:IPGP) shot up 3.8% on Monday . The company traded as high as $77.06 and last traded at $76.64. 23,736 shares were traded during trading, a decline of 91% from the average session volume of 267,183 shares. The stock had previously closed at $73.84.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Northcoast Research cut shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Performance

The firm has a market cap of $3.21 billion, a PE ratio of -21.41 and a beta of 0.96. The stock has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $76.88.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same period in the previous year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was down 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after purchasing an additional 125,958 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in IPG Photonics by 5.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after acquiring an additional 54,166 shares during the period. Pacer Advisors Inc. boosted its stake in shares of IPG Photonics by 37.2% during the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after acquiring an additional 181,844 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in IPG Photonics by 10.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock worth $40,448,000 after purchasing an additional 46,252 shares during the period. Institutional investors own 93.79% of the company’s stock.

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.