IPG Photonics Co. (NASDAQ:IPGP) Short Interest Down 8.7% in July

IPG Photonics Co. (NASDAQ:IPGP) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 2,754,700 shares, a decline of 8.7% from the June 15th total of 3,016,800 shares. Currently, 7.9% of the shares of the stock are short sold. Based on an average daily volume of 533,400 shares, the short-interest ratio is currently 5.2 days.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Canaccord Genuity lifted their price objective on shares of TELUS from C$51.00 to C$52.00 in a research note on Wednesday, May 1st. Benchmark raised shares of from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. DA Davidson assumed coverage on shares of Uber Technologies in a research note on Wednesday, May 1st. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Cascend Securities reaffirmed a “buy” rating and set a $200.00 price objective (up from $180.00) on shares of IPG Photonics in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $182.40.

In other IPG Photonics news, CAO Thomas J. Burgomaster sold 621 shares of IPG Photonics stock in a transaction on Friday, June 21st. The shares were sold at an average price of $145.75, for a total transaction of $90,510.75. Following the completion of the transaction, the chief accounting officer now directly owns 7,577 shares of the company’s stock, valued at $1,104,347.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Igor Samartsev sold 800 shares of IPG Photonics stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.10, for a total transaction of $137,680.00. The disclosure for this sale can be found here. Insiders sold 28,074 shares of company stock worth $4,472,833 in the last 90 days. 33.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of IPGP. Dimensional Fund Advisors LP increased its holdings in shares of IPG Photonics by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 326,446 shares of the semiconductor company’s stock worth $36,988,000 after purchasing an additional 9,214 shares during the period. Principal Financial Group Inc. increased its holdings in shares of IPG Photonics by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 55,082 shares of the semiconductor company’s stock worth $6,240,000 after purchasing an additional 1,420 shares during the period. Bank of America Corp DE increased its holdings in shares of IPG Photonics by 70.9% during the fourth quarter. Bank of America Corp DE now owns 203,385 shares of the semiconductor company’s stock worth $23,042,000 after purchasing an additional 84,410 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of IPG Photonics during the fourth quarter worth approximately $112,000. Finally, Legal & General Group Plc increased its holdings in shares of IPG Photonics by 3.3% during the fourth quarter. Legal & General Group Plc now owns 304,918 shares of the semiconductor company’s stock worth $34,544,000 after purchasing an additional 9,811 shares during the period. 64.22% of the stock is owned by hedge funds and other institutional investors.

Shares of IPGP traded down $2.20 during trading hours on Tuesday, reaching $137.22. 831,714 shares of the company traded hands, compared to its average volume of 490,815. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 3.49 and a beta of 2.14. IPG Photonics has a 12-month low of $104.64 and a 12-month high of $182.17. The company has a current ratio of 8.54, a quick ratio of 6.55 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $141.66.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.02). The company had revenue of $315.00 million for the quarter, compared to analysts’ expectations of $308.75 million. IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.93 earnings per share. On average, equities analysts expect that IPG Photonics will post 5.49 earnings per share for the current year.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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