IPG Photonics (NASDAQ:IPGP) Stock Price Down 4% – What’s Next?

IPG Photonics Co. (NASDAQ:IPGP)’s stock price dropped 4% during mid-day trading on Friday . The stock traded as low as $74.11 and last traded at $74.00. Approximately 50,005 shares changed hands during trading, a decline of 75% from the average daily volume of 200,354 shares. The stock had previously closed at $77.07.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several research reports. Northcoast Research downgraded IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IPG Photonics has a consensus rating of “Hold” and an average price target of $93.50.

IPG Photonics Trading Down 3.9 %

The firm’s 50-day simple moving average is $75.46 and its 200 day simple moving average is $75.17.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The company had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter in the previous year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. On average, equities research analysts forecast that IPG Photonics Co. will post 1.51 earnings per share for the current fiscal year.

Institutional Trading of IPG Photonics

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in IPG Photonics by 5.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 971,043 shares of the semiconductor company’s stock worth $72,168,000 after purchasing an additional 54,166 shares in the last quarter. Pacer Advisors Inc. increased its holdings in IPG Photonics by 37.2% during 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 in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in IPG Photonics by 8.9% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 534,833 shares of the semiconductor company’s stock worth $39,749,000 after purchasing an additional 43,874 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of IPG Photonics by 10.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 479,301 shares of the semiconductor company’s stock worth $40,448,000 after buying an additional 46,252 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of IPG Photonics by 0.4% during the 3rd quarter. Baillie Gifford & Co. now owns 280,347 shares of the semiconductor company’s stock worth $20,835,000 after buying an additional 1,053 shares during the last quarter. 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.