Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Grows By 12.8%

IPG Photonics Co. (NASDAQ:IPGP) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 1,320,000 shares, a growth of 12.8% from the August 15th total of 1,170,000 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average daily trading volume, of 252,200 shares, the days-to-cover ratio is presently 5.2 days.

Institutional Investors Weigh In On IPG Photonics

Several large investors have recently made changes to their positions in IPGP. Vanguard Group Inc. grew its holdings in IPG Photonics by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after buying an additional 11,830 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in IPG Photonics by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after acquiring an additional 125,958 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of IPG Photonics by 1.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after purchasing an additional 11,548 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of IPG Photonics by 2.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock valued at $41,432,000 after purchasing an additional 10,775 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of IPG Photonics by 58.7% during the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock valued at $41,282,000 after purchasing an additional 180,951 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.

Wall Street Analyst Weigh In

IPGP has been the subject of several research reports. Raymond James decreased their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Wednesday, July 31st. Benchmark lowered shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus reduced their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.40.

IPG Photonics Price Performance

NASDAQ:IPGP opened at $68.81 on Wednesday. IPG Photonics has a 12-month low of $61.86 and a 12-month high of $111.11. The business has a 50 day simple moving average of $74.00 and a 200 day simple moving average of $82.31. The firm has a market capitalization of $3.14 billion, a P/E ratio of 17.73 and a beta of 1.00.

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

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.