Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Increases By 12.2%

IPG Photonics Co. (NASDAQ:IPGP) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a growth of 12.2% from the September 30th total of 1,470,000 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average trading volume of 254,900 shares, the short-interest ratio is presently 6.5 days.

Institutional Trading of IPG Photonics

Hedge funds have recently modified their holdings of the business. State of Michigan Retirement System boosted its stake in IPG Photonics by 2.8% during the first quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock worth $662,000 after acquiring an additional 200 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of IPG Photonics by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 111,359 shares of the semiconductor company’s stock worth $10,099,000 after purchasing an additional 2,801 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of IPG Photonics by 20.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,659 shares of the semiconductor company’s stock worth $604,000 after buying an additional 1,135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in IPG Photonics by 21.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,675 shares of the semiconductor company’s stock valued at $2,782,000 after buying an additional 5,459 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in IPG Photonics by 125.5% during the 1st quarter. BNP Paribas Financial Markets now owns 40,751 shares of the semiconductor company’s stock valued at $3,696,000 after buying an additional 22,680 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Analyst Ratings Changes

IPGP has been the topic of a number of research analyst reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Stifel Nicolaus decreased 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 report on Wednesday, July 31st. Finally, Raymond James cut their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average target price of $93.50.

IPG Photonics Price Performance

IPGP traded down $2.35 during midday trading on Thursday, reaching $80.96. 386,304 shares of the company’s stock traded hands, compared to its average volume of 267,146. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -23.27 and a beta of 1.00. IPG Photonics has a 52 week low of $61.86 and a 52 week high of $111.11. The firm has a fifty day moving average of $71.68 and a two-hundred day moving average of $79.25.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. IPG Photonics had a net margin of 12.67% and a return on equity of 5.99%. The company had revenue of $233.14 million for the quarter, compared to analysts’ expectations of $227.89 million. During the same quarter in the previous year, the company earned $1.16 earnings per share. IPG Photonics’s quarterly revenue was down 22.6% on a year-over-year basis. Sell-side analysts forecast 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.