IPG Photonics (NASDAQ:IPGP) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

IPG Photonics Co. (NASDAQ:IPGP)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $74.70 and traded as high as $75.00. IPG Photonics shares last traded at $73.33, with a volume of 168,512 shares traded.

Wall Street Analysts Forecast Growth

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

IPG Photonics Stock Down 0.3 %

The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -21.13 and a beta of 0.96. The firm’s 50 day moving average is $75.23 and its 200 day moving average is $74.70.

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

Hedge Funds Weigh In On IPG Photonics

A number of hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its position in IPG Photonics by 56.7% in the 4th quarter. Versant Capital Management Inc now owns 954 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 345 shares in the last quarter. Venturi Wealth Management LLC increased its position in IPG Photonics by 355.7% in the 4th quarter. Venturi Wealth Management LLC now owns 1,048 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 818 shares in the last quarter. KBC Group NV increased its position in IPG Photonics by 50.6% in the 3rd quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 365 shares in the last quarter. Assetmark Inc. increased its position in IPG Photonics by 28.3% in the 3rd quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock valued at $99,000 after acquiring an additional 295 shares in the last quarter. Finally, FMR LLC increased its position in IPG Photonics by 10.4% in the 3rd quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds 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.