IPG Photonics (NASDAQ:IPGP) Shares Gap Up - Here's Why

IPG Photonics Co. (NASDAQ:IPGP - Get Free Report)'s share price gapped up prior to trading 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 changing hands.

Analyst Ratings Changes

A number of equities analysts recently commented on IPGP shares. Needham & Company LLC reiterated a "hold" rating on shares of IPG Photonics in a research report on Wednesday. Stifel Nicolaus decreased their price objective on IPG Photonics from $100.00 to $85.00 and set a "buy" rating on the stock in a report on Wednesday. Benchmark restated a "hold" rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Northcoast Research cut shares of IPG Photonics from a "buy" rating to a "neutral" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $89.75.

IPG Photonics Trading Up 0.4 %

The business's 50 day moving average price is $73.74 and its two-hundred day moving average price is $73.47. The stock has a market cap of $2.73 billion, a P/E ratio of -18.18 and a beta of 0.95.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings data 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 positive return on equity of 4.32% and a negative net margin of 14.20%. As a group, analysts expect that IPG Photonics Co. will post 1.47 earnings per share for the current year.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently bought and sold shares of IPGP. Pacific Heights Asset Management LLC boosted its position in shares of IPG Photonics by 375.0% in the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company's stock worth $22,107,000 after purchasing an additional 240,000 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of IPG Photonics by 37.2% in the 3rd quarter. Pacer Advisors Inc. now owns 671,025 shares of the semiconductor company's stock worth $49,871,000 after purchasing an additional 181,844 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in IPG Photonics by 14.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company's stock worth $98,335,000 after purchasing an additional 173,584 shares in the last quarter. Retirement Systems of Alabama grew its position in IPG Photonics by 437.2% during the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company's stock valued at $13,011,000 after purchasing an additional 145,616 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IPG Photonics during the 4th quarter valued at about $8,815,000. Hedge funds and other institutional investors own 93.79% of the company's stock.

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.