Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Increases By 10.3%

IPG Photonics Co. (NASDAQ:IPGP) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,180,000 shares, a growth of 10.3% from the May 31st total of 1,070,000 shares. Based on an average trading volume of 224,200 shares, the short-interest ratio is currently 5.3 days. Approximately 4.3% of the company’s stock are short sold.

Analysts Set New Price Targets

IPGP has been the subject of several recent analyst reports. Benchmark decreased their target price on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Citigroup decreased their target price on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IPG Photonics presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.40.

Insider Buying and Selling

In related news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the sale, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the sale, the insider now owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeanmarie F. Desmond sold 985 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $85.20, for a total transaction of $83,922.00. Following the sale, the director now directly owns 4,319 shares in the company, valued at approximately $367,978.80. The disclosure for this sale can be found here. Insiders have sold 10,773 shares of company stock valued at $927,030 over the last quarter. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC increased its holdings in IPG Photonics by 127.2% during the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in IPG Photonics during the fourth quarter valued at approximately $40,000. Disciplined Equity Management Inc. purchased a new stake in IPG Photonics during the fourth quarter valued at approximately $43,000. Crewe Advisors LLC purchased a new stake in IPG Photonics during the first quarter valued at approximately $52,000. Finally, AM Squared Ltd increased its holdings in IPG Photonics by 200.0% during the fourth quarter. AM Squared Ltd now owns 600 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 400 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Down 0.4 %

IPGP opened at $84.58 on Thursday. The firm has a 50 day moving average price of $86.05 and a 200-day moving average price of $91.40. IPG Photonics has a twelve month low of $80.27 and a twelve month high of $141.85. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.80 and a beta of 1.01.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, beating 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 firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $255.53 million. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was down 27.4% on a year-over-year basis. As a group, analysts expect that IPG Photonics will post 2.77 earnings per share for the current 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.