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

Shares of IPG Photonics Co. (NASDAQ:IPGP) gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

IPG Photonics Stock Performance

The firm’s 50 day moving average price is $66.58 and its two-hundred day moving average price is $72.01. The firm has a market cap of $2.88 billion, a PE ratio of -16.17 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data 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%. On average, analysts forecast that IPG Photonics Co. will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

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