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

IPG Photonics Co. (NASDAQ:IPGP) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 1,320,000 shares, an increase of 12.8% from the August 15th total of 1,170,000 shares. Based on an average daily volume of 252,200 shares, the days-to-cover ratio is presently 5.2 days. Approximately 5.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in IPG Photonics during the 1st quarter valued at $52,000. Mather Group LLC. acquired a new position in IPG Photonics during the first quarter worth about $67,000. Innealta Capital LLC bought a new stake in IPG Photonics in the second quarter worth about $85,000. TFO Wealth Partners LLC boosted its position in shares of IPG Photonics by 38,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,143 shares of the semiconductor company’s stock valued at $124,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Covestor Ltd grew 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 worth $157,000 after purchasing an additional 838 shares during the last quarter. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IPGP shares. Raymond James decreased their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a report on Wednesday, July 31st. Stifel Nicolaus cut their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Benchmark cut IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Trading Up 1.1 %

IPGP traded up $0.72 on Monday, hitting $68.39. 178,574 shares of the company’s stock were exchanged, compared to its average volume of 263,257. The stock has a fifty day moving average of $74.64 and a two-hundred day moving average of $82.57. IPG Photonics has a twelve month low of $61.86 and a twelve month high of $111.11. The firm has a market cap of $3.12 billion, a PE ratio of 17.44 and a beta of 1.00.

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

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.