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.
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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