IPG Photonics (NASDAQ:IPGP) Shares Up 3.8% – Here’s Why

IPG Photonics Co. (NASDAQ:IPGP)’s share price rose 3.8% during trading on Monday . The stock traded as high as $77.06 and last traded at $76.64. Approximately 23,736 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 267,183 shares. The stock had previously closed at $73.84.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPGP. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Northcoast Research lowered shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.50.

IPG Photonics Stock Up 2.0 %

The stock has a market cap of $3.30 billion, a P/E ratio of -22.00 and a beta of 0.96. The business’s 50-day simple moving average is $77.65 and its two-hundred day simple moving average is $76.73.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Analysts anticipate that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position 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 in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in IPG Photonics by 2.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after acquiring an additional 10,775 shares during the last quarter. LHM Inc. boosted its position in shares of IPG Photonics by 61.1% during the 2nd quarter. LHM Inc. now owns 45,775 shares of the semiconductor company’s stock valued at $3,863,000 after acquiring an additional 17,354 shares during the last quarter. Quantbot Technologies LP increased its position in shares of IPG Photonics by 57.7% in the third quarter. Quantbot Technologies LP now owns 23,253 shares of the semiconductor company’s stock worth $1,728,000 after purchasing an additional 8,507 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in IPG Photonics by 8.2% in the third quarter. Systematic Financial Management LP now owns 123,902 shares of the semiconductor company’s stock valued at $9,208,000 after purchasing an additional 9,405 shares in the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

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.