IPG Photonics (NASDAQ:IPGP) Stock Price Down 4% – Here’s Why

Shares of IPG Photonics Co. (NASDAQ:IPGP) traded down 4% during mid-day trading on Friday . The company traded as low as $74.11 and last traded at $74.00. 50,005 shares were traded during mid-day trading, a decline of 75% from the average session volume of 200,354 shares. The stock had previously closed at $77.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IPGP shares. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.50.

IPG Photonics Stock Down 3.8 %

The company has a market capitalization of $3.21 billion, a P/E ratio of -21.35 and a beta of 0.96. The company’s fifty day moving average price is $75.40 and its 200 day moving average price is $75.30.

IPG Photonics (NASDAQ:IPGP) last announced 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. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Research analysts predict that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently made changes to their positions in IPGP. Dimensional Fund Advisors LP grew its holdings 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 last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of IPG Photonics by 5.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after buying an additional 54,166 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of 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. Disciplined Growth Investors Inc. MN boosted its holdings in shares of IPG Photonics by 8.9% during 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 acquiring an additional 43,874 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in IPG Photonics by 10.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock worth $40,448,000 after acquiring an additional 46,252 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors and hedge funds.

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.