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

IPG Photonics Co. (NASDAQ:IPGP) saw a significant 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 short-interest ratio is currently 5.3 days. Currently, 4.3% of the shares of the stock are short sold.

IPG Photonics Stock Down 0.1 %

Shares of NASDAQ IPGP traded down $0.10 during midday trading on Wednesday, reaching $84.81. 39,539 shares of the company were exchanged, compared to its average volume of 270,338. The stock’s 50-day moving average price is $86.12 and its 200-day moving average price is $91.45. The stock has a market cap of $3.86 billion, a P/E ratio of 21.88 and a beta of 1.01. IPG Photonics has a one year low of $80.27 and a one year high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. IPG Photonics’s revenue for the quarter was down 27.4% on a year-over-year basis. On average, equities research analysts anticipate that IPG Photonics will post 2.77 EPS for the current year.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of IPG Photonics stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total value of $772,740.00. Following the completion of the sale, the insider now directly owns 7,200,599 shares in the company, valued at $618,243,430.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the transaction, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,773 shares of company stock worth $927,030. Corporate insiders own 38.00% of the company’s stock.

Institutional Trading of IPG Photonics

Several institutional investors have recently modified their holdings of IPGP. Channing Capital Management LLC bought a new stake in shares of IPG Photonics in the fourth quarter worth $70,719,000. Norges Bank bought a new stake in IPG Photonics during the fourth quarter valued at $36,365,000. New York State Common Retirement Fund boosted its position in IPG Photonics by 636.6% during the fourth quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock valued at $22,197,000 after acquiring an additional 176,739 shares during the last quarter. M&G Plc bought a new stake in IPG Photonics during the first quarter valued at $15,929,000. Finally, Artisan Partners Limited Partnership bought a new stake in IPG Photonics during the fourth quarter valued at $16,035,000. Institutional investors own 93.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

About IPG Photonics

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.