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

Shares of IPG Photonics Co. (NASDAQ:IPGP) 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.

Wall Street Analysts Forecast Growth

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

IPG Photonics Price Performance

The stock has a market capitalization of $2.74 billion, a P/E ratio of -18.10 and a beta of 0.95. The stock has a fifty day moving average price of $74.27 and a 200 day moving average price of $73.71.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results 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%. Research analysts anticipate that IPG Photonics Co. will post 1.47 earnings per share for the current year.

Institutional Trading of IPG Photonics

Several hedge funds have recently added to or reduced their stakes in IPGP. Versant Capital Management Inc increased its stake in shares of IPG Photonics by 56.7% in the fourth quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock worth $69,000 after buying an additional 345 shares during the period. Venturi Wealth Management LLC increased its position in shares of IPG Photonics by 355.7% in the fourth quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 818 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of IPG Photonics by 463.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 876 shares during the last quarter. KBC Group NV boosted its holdings in shares of 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 purchasing an additional 365 shares during the period. Finally, Assetmark Inc. grew its stake in shares of IPG Photonics by 28.3% in the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the last quarter. 93.79% of the stock is owned by institutional investors.

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.