IPG Photonics Co. (NASDAQ:IPGP) Sees Significant Decrease in Short Interest

IPG Photonics Co. (NASDAQ:IPGP) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,950,000 shares, a decline of 11.4% from the December 15th total of 3,330,000 shares. Approximately 8.4% of the shares of the company are sold short. Based on an average daily volume of 409,900 shares, the short-interest ratio is currently 7.2 days.

Several equities analysts have issued reports on IPGP shares. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Tuesday, October 29th. Piper Jaffray Companies started coverage on IPG Photonics in a research report on Friday, December 20th. They set a “neutral” rating and a $155.00 target price on the stock. ValuEngine upgraded IPG Photonics from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised IPG Photonics from a “sell” rating to a “hold” rating and set a $115.00 price target on the stock in a research note on Tuesday, October 1st. Finally, BidaskClub lowered IPG Photonics from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $160.00.

Shares of NASDAQ:IPGP traded up $2.13 during trading on Tuesday, hitting $139.21. 424,669 shares of the stock were exchanged, compared to its average volume of 453,774. The company has a fifty day moving average price of $142.43 and a two-hundred day moving average price of $136.59. The company has a market cap of $7.27 billion, a PE ratio of 18.86, a P/E/G ratio of 10.88 and a beta of 2.17. The company has a current ratio of 9.08, a quick ratio of 7.05 and a debt-to-equity ratio of 0.02. IPG Photonics has a 12-month low of $113.67 and a 12-month high of $182.17.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.12). The firm had revenue of $329.14 million for the quarter, compared to analysts’ expectations of $336.93 million. IPG Photonics had a return on equity of 11.50% and a net margin of 19.45%. IPG Photonics’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Equities research analysts anticipate that IPG Photonics will post 4.34 earnings per share for the current fiscal year.

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.01, for a total transaction of $1,420,100.00. Following the transaction, the insider now owns 7,545,699 shares in the company, valued at approximately $1,071,564,714.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Igor Samartsev sold 800 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $134.65, for a total value of $107,720.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,800 shares of company stock worth $2,656,300 in the last quarter. 33.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Lenox Wealth Advisors LLC lifted its stake in IPG Photonics by 213.4% in the 4th quarter. Lenox Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 175 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in IPG Photonics by 222.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 277 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 191 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in IPG Photonics in the 2nd quarter valued at approximately $42,000. Cerebellum GP LLC purchased a new stake in IPG Photonics in the 3rd quarter valued at approximately $50,000. Finally, Global Retirement Partners LLC lifted its stake in IPG Photonics by 1,166.7% in the 3rd quarter. Global Retirement Partners LLC now owns 380 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 350 shares in the last quarter. 64.44% of the stock is currently owned by hedge funds and other institutional investors.

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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