IPG Photonics Co. (NASDAQ:IPGP – Get Free Report) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,180,000 shares, an increase of 10.3% from the May 31st total of 1,070,000 shares. Based on an average daily trading volume, of 224,200 shares, the short-interest ratio is currently 5.3 days. Currently, 4.3% of the shares of the stock are short sold.
IPG Photonics Stock Down 0.1 %
Shares of NASDAQ IPGP traded down $0.10 during midday trading on Wednesday, reaching $84.81. 39,539 shares of the company were exchanged, compared to its average volume of 270,338. The stock’s 50-day moving average price is $86.12 and its 200-day moving average price is $91.45. The stock has a market cap of $3.86 billion, a P/E ratio of 21.88 and a beta of 1.01. IPG Photonics has a one year low of $80.27 and a one year high of $141.85.
IPG Photonics (NASDAQ:IPGP – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, topping 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 company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. IPG Photonics’s revenue for the quarter was down 27.4% on a year-over-year basis. On average, equities research analysts anticipate that IPG Photonics will post 2.77 EPS for the current year.
Insider Activity
Institutional Trading of IPG Photonics
Several institutional investors have recently modified their holdings of IPGP. Channing Capital Management LLC bought a new stake in shares of IPG Photonics in the fourth quarter worth $70,719,000. Norges Bank bought a new stake in IPG Photonics during the fourth quarter valued at $36,365,000. New York State Common Retirement Fund boosted its position in IPG Photonics by 636.6% during the fourth quarter. New York State Common Retirement Fund now owns 204,502 shares of the semiconductor company’s stock valued at $22,197,000 after acquiring an additional 176,739 shares during the last quarter. M&G Plc bought a new stake in IPG Photonics during the first quarter valued at $15,929,000. Finally, Artisan Partners Limited Partnership bought a new stake in IPG Photonics during the fourth quarter valued at $16,035,000. Institutional investors own 93.79% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Citigroup lowered their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. Finally, Benchmark lowered their price objective on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.
Read Our Latest Research Report on IPGP
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.
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