Short Interest in IPG Photonics Co. (NASDAQ:IPGP) Expands By 12.2%

IPG Photonics Co. (NASDAQ:IPGP) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,650,000 shares, a growth of 12.2% from the September 30th total of 1,470,000 shares. Based on an average daily trading volume, of 254,900 shares, the days-to-cover ratio is currently 6.5 days. Approximately 6.4% of the shares of the company are short sold.

IPG Photonics Price Performance

IPGP traded down $2.35 on Thursday, hitting $80.96. 386,307 shares of the stock were exchanged, compared to its average volume of 267,146. IPG Photonics has a 12 month low of $61.86 and a 12 month high of $111.11. The business has a 50-day moving average of $71.68 and a two-hundred day moving average of $79.25. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -23.27 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm’s revenue was down 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities research analysts expect that IPG Photonics will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IPG Photonics

Large investors have recently bought and sold shares of the stock. Crewe Advisors LLC bought a new position in IPG Photonics in the 1st quarter worth about $52,000. Innealta Capital LLC bought a new stake in IPG Photonics in the 2nd quarter worth approximately $85,000. Covestor Ltd lifted its position in IPG Photonics by 94.2% in the 1st quarter. Covestor Ltd now owns 1,728 shares of the semiconductor company’s stock worth $157,000 after buying an additional 838 shares during the last quarter. EntryPoint Capital LLC increased its stake in IPG Photonics by 97.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,964 shares of the semiconductor company’s stock worth $178,000 after purchasing an additional 970 shares during the period. Finally, CWM LLC increased its stake in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,689 shares during the period. 93.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday. Raymond James cut their price target on shares of IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Stifel Nicolaus lowered their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $93.50.

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.