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

IPG Photonics Co. (NASDAQ:IPGP) saw a large increase in short interest during the month of 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 currently 5.2 days. Currently, 5.0% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James dropped their price objective 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 price objective on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Benchmark lowered 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.40.

IPG Photonics Stock Performance

Shares of NASDAQ:IPGP opened at $68.81 on Wednesday. The business’s 50-day simple moving average is $74.00 and its 200 day simple moving average is $82.31. The company has a market cap of $3.14 billion, a P/E ratio of 17.73 and a beta of 1.00. IPG Photonics has a one year low of $61.86 and a one year high of $111.11.

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

Hedge Funds Weigh In On IPG Photonics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of IPG Photonics by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after acquiring an additional 11,830 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after buying an additional 125,958 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of IPG Photonics by 1.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after buying an additional 11,548 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of IPG Photonics by 2.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after buying an additional 10,775 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in IPG Photonics by 58.7% in the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after acquiring an additional 180,951 shares in the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

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.