Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Increases By 7.4%

IPG Photonics Co. (NASDAQ:IPGP) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,958,000 shares, an increase of 7.4% from the June 30th total of 2,754,700 shares. Based on an average daily trading volume, of 542,500 shares, the days-to-cover ratio is currently 5.5 days. Approximately 8.4% of the shares of the stock are short sold.

Several brokerages recently weighed in on IPGP. BidaskClub downgraded IPG Photonics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Susquehanna Bancshares set a $127.00 target price on IPG Photonics and gave the company a “hold” rating in a research report on Wednesday, July 31st. Raymond James dropped their target price on IPG Photonics from $204.00 to $190.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. Benchmark downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, DA Davidson dropped their target price on IPG Photonics to $175.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $171.67.

IPG Photonics stock traded up $2.80 during trading hours on Friday, hitting $119.42. The stock had a trading volume of 439,862 shares, compared to its average volume of 497,387. The company has a quick ratio of 6.47, a current ratio of 8.38 and a debt-to-equity ratio of 0.02. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 3.51 and a beta of 2.13. IPG Photonics has a one year low of $104.64 and a one year high of $182.17. The business’s 50 day simple moving average is $135.10 and its 200-day simple moving average is $146.42.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $1.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.07). IPG Photonics had a return on equity of 13.68% and a net margin of 22.23%. The company had revenue of $363.80 million for the quarter, compared to the consensus estimate of $352.31 million. During the same quarter last year, the business earned $2.21 earnings per share. IPG Photonics’s revenue was down 12.0% compared to the same quarter last year. Research analysts anticipate that IPG Photonics will post 4.71 EPS for the current fiscal year.

In related news, CAO Thomas J. Burgomaster sold 621 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $145.75, for a total transaction of $90,510.75. Following the completion of the sale, the chief accounting officer now directly owns 7,577 shares in the company, valued at approximately $1,104,347.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Trevor Ness sold 166 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $165.00, for a total value of $27,390.00. Following the sale, the senior vice president now owns 20,753 shares of the company’s stock, valued at $3,424,245. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,049 shares of company stock valued at $1,957,905. 33.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of IPGP. TRUE Private Wealth Advisors bought a new position in shares of IPG Photonics during the second quarter worth about $38,000. Manchester Capital Management LLC bought a new position in shares of IPG Photonics during the first quarter worth about $59,000. Stephens Inc. AR raised its position in shares of IPG Photonics by 89.4% during the first quarter. Stephens Inc. AR now owns 498 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 235 shares during the last quarter. Signaturefd LLC raised its position in shares of IPG Photonics by 322.5% during the second quarter. Signaturefd LLC now owns 507 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 387 shares during the last quarter. Finally, CSat Investment Advisory L.P. raised its position in shares of IPG Photonics by 60.2% during the second quarter. CSat Investment Advisory L.P. now owns 596 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 64.57% of the company’s stock.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

Further Reading: Hold Rating

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