Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Expands By 12.8%

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

Institutional Investors Weigh In On IPG Photonics

Several hedge funds have recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in IPG Photonics during the first quarter valued at about $52,000. Mather Group LLC. acquired a new stake in shares of IPG Photonics during the 1st quarter worth approximately $67,000. Innealta Capital LLC bought a new stake in shares of IPG Photonics during the second quarter valued at approximately $85,000. TFO Wealth Partners LLC raised its stake in shares of IPG Photonics by 38,000.0% in the fourth 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 lifted its position in IPG Photonics by 94.2% in the first 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 period. Institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on IPGP. Raymond James cut their target price 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. Stifel Nicolaus reduced their price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Benchmark lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $93.40.

IPG Photonics Price Performance

Shares of NASDAQ IPGP traded up $0.72 during trading hours on Monday, hitting $68.39. 178,574 shares of the stock were exchanged, compared to its average volume of 263,257. The firm has a market capitalization of $3.12 billion, a P/E ratio of 17.44 and a beta of 1.00. IPG Photonics has a one year low of $61.86 and a one year high of $111.11. The company’s 50 day moving average is $74.64 and its 200 day moving average is $82.57.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.45 earnings per share (EPS) 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%. The company’s revenue was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. Research analysts anticipate that IPG Photonics will post 1.38 earnings per share for the current fiscal year.

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.