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

IPG Photonics Co. (NASDAQ:IPGP) shares gapped down before the market opened on Tuesday . The stock had previously closed at $67.62, but opened at $66.23. IPG Photonics shares last traded at $66.80, with a volume of 13,646 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Stifel Nicolaus reduced their price target on shares of IPG Photonics from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Citigroup dropped their target price on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday, February 12th. Finally, CL King raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IPG Photonics currently has an average rating of “Hold” and a consensus price target of $85.40.

IPG Photonics Trading Down 0.0 %

The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of -16.17 and a beta of 1.04. The stock has a fifty day moving average of $66.58 and a 200-day moving average of $72.01.

IPG Photonics (NASDAQ:IPGP) last issued 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, equities research analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Beaumont Financial Advisors LLC lifted its position in shares of IPG Photonics by 4.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,414 shares of the semiconductor company’s stock worth $248,000 after purchasing an additional 139 shares during the last quarter. FMR LLC lifted its holdings in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after buying an additional 153 shares during the last quarter. Cerity Partners LLC grew its stake in shares of IPG Photonics by 5.7% in the fourth quarter. Cerity Partners LLC now owns 3,030 shares of the semiconductor company’s stock worth $222,000 after acquiring an additional 163 shares during the last quarter. Waterfront Wealth Inc. raised its stake in IPG Photonics by 1.6% during the 4th quarter. Waterfront Wealth Inc. now owns 12,310 shares of the semiconductor company’s stock valued at $895,000 after purchasing an additional 190 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of IPG Photonics by 4.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,274 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 194 shares during the last quarter. 93.79% of the stock is currently 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.