IPG Photonics Co. (NASDAQ:IPGP) Short Interest Update

IPG Photonics Co. (NASDAQ:IPGP) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,180,000 shares, an increase of 10.3% from the May 31st total of 1,070,000 shares. Based on an average daily trading volume, of 224,200 shares, the days-to-cover ratio is currently 5.3 days. Currently, 4.3% of the shares of the stock are sold short.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the sale, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the sale, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction on Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,773 shares of company stock worth $927,030. 38.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On IPG Photonics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB purchased a new position in shares of IPG Photonics during the first quarter valued at about $2,687,000. Comerica Bank increased its position in shares of IPG Photonics by 11.0% during the first quarter. Comerica Bank now owns 45,444 shares of the semiconductor company’s stock valued at $4,121,000 after buying an additional 4,503 shares during the period. Tidal Investments LLC grew its holdings in IPG Photonics by 10.1% in the first quarter. Tidal Investments LLC now owns 6,601 shares of the semiconductor company’s stock worth $599,000 after purchasing an additional 607 shares during the period. Motley Fool Asset Management LLC grew its holdings in IPG Photonics by 78.7% in the first quarter. Motley Fool Asset Management LLC now owns 22,372 shares of the semiconductor company’s stock worth $2,029,000 after purchasing an additional 9,851 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in IPG Photonics by 19.0% in the first quarter. Invenomic Capital Management LP now owns 258,255 shares of the semiconductor company’s stock worth $23,421,000 after purchasing an additional 41,277 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Price Performance

IPG Photonics stock traded down $0.10 during trading hours on Wednesday, reaching $84.81. The stock had a trading volume of 39,539 shares, compared to its average volume of 270,338. The stock has a market cap of $3.86 billion, a PE ratio of 21.88 and a beta of 1.01. IPG Photonics has a 52 week low of $80.27 and a 52 week high of $141.85. The company has a fifty day simple moving average of $86.12 and a 200-day simple moving average of $91.45.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company’s revenue was down 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.26 EPS. Research analysts predict that IPG Photonics will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on IPGP shares. Citigroup decreased their target price on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, Benchmark decreased their target price on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.40.

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.