IPG Photonics (NASDAQ:IPGP) Shares Gap Up – Still a Buy?

IPG Photonics Co. (NASDAQ:IPGP)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $79.27, but opened at $81.65. IPG Photonics shares last traded at $85.83, with a volume of 75,028 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James cut their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Trading Up 11.0 %

The business has a 50 day moving average of $71.13 and a 200-day moving average of $79.23. The firm has a market capitalization of $4.01 billion, a P/E ratio of 21.84 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.03). The business had revenue of $257.60 million during the quarter, compared to the consensus estimate of $259.31 million. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. IPG Photonics’s quarterly revenue was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. On average, analysts anticipate that IPG Photonics Co. will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in shares of IPG Photonics in the 1st quarter valued at $52,000. Innealta Capital LLC acquired a new position in IPG Photonics during the second quarter worth about $85,000. Covestor Ltd boosted its stake in shares of IPG Photonics by 94.2% in the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 838 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of IPG Photonics by 97.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock valued at $178,000 after purchasing an additional 970 shares during the last quarter. Finally, CWM LLC increased its position in IPG Photonics by 226.4% during the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares in 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.