IPG Photonics Co. (NASDAQ:IPGP) Sees Large Growth in Short Interest

IPG Photonics Co. (NASDAQ:IPGP) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,560,000 shares, a growth of 20.9% from the February 28th total of 1,290,000 shares. Based on an average daily volume of 342,100 shares, the days-to-cover ratio is presently 4.6 days. Currently, 6.4% of the company’s shares are short sold.

IPG Photonics Stock Down 7.1 %

IPG Photonics stock opened at $58.66 on Thursday. The company’s 50 day moving average price is $65.19 and its two-hundred day moving average price is $72.00. IPG Photonics has a 52 week low of $56.71 and a 52 week high of $92.21. The stock has a market cap of $2.50 billion, a P/E ratio of -14.30 and a beta of 1.04.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, February 11th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). IPG Photonics had a positive return on equity of 2.98% and a negative net margin of 18.58%. On average, equities analysts anticipate that IPG Photonics will post 1.54 EPS for the current year.

Analyst Ratings Changes

IPGP has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, February 12th. Citigroup cut their price target on IPG Photonics from $62.00 to $60.00 and set a “sell” rating on the stock in a report on Tuesday, February 18th. Northcoast Research lowered IPG Photonics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reduced their price objective on IPG Photonics from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, CL King raised IPG Photonics from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.40.

Hedge Funds Weigh In On IPG Photonics

Institutional investors have recently bought and sold shares of the company. Pacific Heights Asset Management LLC lifted its position in shares of IPG Photonics by 375.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 304,000 shares of the semiconductor company’s stock valued at $22,107,000 after buying an additional 240,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IPG Photonics by 14.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,246 shares of the semiconductor company’s stock worth $98,335,000 after acquiring an additional 173,584 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of IPG Photonics by 437.2% during the 4th quarter. Retirement Systems of Alabama now owns 178,925 shares of the semiconductor company’s stock valued at $13,011,000 after purchasing an additional 145,616 shares in the last quarter. Raymond James Financial Inc. bought a new position in IPG Photonics in the fourth quarter valued at $8,815,000. Finally, Ameriprise Financial Inc. lifted its stake in IPG Photonics by 65.1% during the fourth quarter. Ameriprise Financial Inc. now owns 298,845 shares of the semiconductor company’s stock worth $21,732,000 after purchasing an additional 117,846 shares during the last quarter. Hedge funds and other institutional investors own 93.79% of the company’s stock.

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.