IPG Photonics stock jumps 5.3% after Stifel reiterates Buy rating

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Shares of IPG Photonics rose 5.3% in afternoon trading after Stifel reiterated its Buy rating and $125 price target on the fiber laser manufacturer. The move was also supported by a broader rebound in the semiconductor sector, with the PHLX Semiconductor Index gaining 3.8% in the prior session. The sector-wide momentum was influenced by strong recent earnings from Micron Technology, which renewed investor appetite for technology stocks.

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Strong recent earnings from Micron renewed investor appetite for tech stocks, supporting sector-wide rebound.

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