IPG Photonics (NASDAQ:IPGP) Shares Gap Down - Here's What Happened

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report)'s share price 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 traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IPGP shares. Stifel Nicolaus dropped their price objective on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Citigroup dropped their price target on IPG Photonics from $62.00 to $60.00 and set a "sell" rating on the stock in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Northcoast Research downgraded shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. Finally, CL King upgraded shares of IPG Photonics from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.40.

IPG Photonics Trading Down 0.9 %

The firm has a market capitalization of $2.77 billion, a P/E ratio of -15.58 and a beta of 1.04. The company has a 50 day moving average of $65.98 and a 200-day moving average of $71.97.

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IPG Photonics (NASDAQ:IPGP - Get Free Report) last released 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 18.58% and a positive return on equity of 2.98%. As a group, sell-side analysts forecast that IPG Photonics Co. will post 1.54 EPS for the current fiscal year.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently made changes to their positions in IPGP. Versant Capital Management Inc grew its position in IPG Photonics by 56.7% during 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 in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of IPG Photonics by 355.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company's stock worth $76,000 after purchasing an additional 818 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of IPG Photonics by 463.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,065 shares of the semiconductor company's stock worth $77,000 after purchasing an additional 876 shares during the period. Headlands Technologies LLC acquired a new position in IPG Photonics in the fourth quarter valued at about $87,000. Finally, KBC Group NV lifted its position in IPG Photonics by 48.5% during the fourth quarter. KBC Group NV now owns 1,613 shares of the semiconductor company's stock worth $117,000 after purchasing an additional 527 shares during the period. 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.