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

IPG Photonics Co. (NASDAQ:IPGP)’s stock price traded up 3.1% during mid-day trading on Tuesday . The stock traded as high as $64.64 and last traded at $65.27. 39,974 shares changed hands 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 Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. CL King upgraded IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Tuesday. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Citigroup lowered their target price on shares of IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.40.

IPG Photonics Stock Up 0.2 %

The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -15.85 and a beta of 1.04. The company has a 50-day moving average price of $67.00 and a 200-day moving average price of $71.98.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts expect that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently made changes to their positions in IPGP. Victory Capital Management Inc. grew its position in shares of IPG Photonics by 23.8% in the third quarter. Victory Capital Management Inc. now owns 7,205 shares of the semiconductor company’s stock valued at $535,000 after purchasing an additional 1,385 shares during the last quarter. KBC Group NV grew its position in IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after buying an additional 365 shares in the last quarter. Quest Partners LLC acquired a new stake in IPG Photonics during the third quarter worth about $190,000. Pacer Advisors Inc. grew its position in IPG Photonics by 37.2% during the third quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company’s stock worth $49,871,000 after buying an additional 181,844 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in IPG Photonics by 4.3% during the third quarter. Fisher Asset Management LLC now owns 192,050 shares of the semiconductor company’s stock worth $14,273,000 after buying an additional 7,911 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

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.