IPG Photonics Co. (NASDAQ:IPGP) Sees Large Growth in Short Interest

IPG Photonics Co. (NASDAQ:IPGPGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 764,900 shares, an increase of 6.4% from the February 29th total of 718,900 shares. Based on an average trading volume of 303,600 shares, the short-interest ratio is presently 2.5 days. Approximately 2.7% of the shares of the company are sold short.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the sale, the insider now directly owns 7,219,599 shares of the company’s stock, valued at approximately $618,575,242.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Eric Meurice sold 629 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $100.00, for a total value of $62,900.00. Following the completion of the transaction, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,649,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $85.68, for a total value of $856,800.00. Following the completion of the transaction, the insider now directly owns 7,219,599 shares of the company’s stock, valued at $618,575,242.32. The disclosure for this sale can be found here. Insiders sold a total of 20,629 shares of company stock valued at $1,815,300 in the last ninety days. Insiders own 33.50% of the company’s stock.

Institutional Trading of IPG Photonics

A number of hedge funds and other institutional investors have recently modified their holdings of IPGP. Schonfeld Strategic Advisors LLC grew its holdings in shares of IPG Photonics by 2,136.2% during the third quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company’s stock valued at $8,401,000 after purchasing an additional 79,039 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in IPG Photonics by 70.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company’s stock worth $6,183,000 after acquiring an additional 23,595 shares during the period. Vanguard Group Inc. boosted its position in IPG Photonics by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock worth $308,587,000 after acquiring an additional 85,984 shares during the period. Quantbot Technologies LP acquired a new stake in IPG Photonics during the 3rd quarter worth about $960,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of IPG Photonics by 46.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 175,099 shares of the semiconductor company’s stock valued at $17,780,000 after buying an additional 55,700 shares during the last quarter. 93.79% of the stock is owned by hedge funds and other institutional investors.

IPG Photonics Stock Down 0.3 %

IPGP stock opened at $87.96 on Thursday. IPG Photonics has a 52-week low of $83.00 and a 52-week high of $141.85. The stock’s fifty day simple moving average is $91.29 and its 200-day simple moving average is $95.71. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 17.88 and a beta of 1.19.

IPG Photonics (NASDAQ:IPGPGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.06). IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The business had revenue of $298.89 million for the quarter, compared to analyst estimates of $287.03 million. During the same quarter last year, the business earned ($1.91) EPS. IPG Photonics’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that IPG Photonics will post 3.23 earnings per share for the current fiscal year.

IPG Photonics declared that its Board of Directors has approved a share buyback program on Tuesday, February 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on IPGP. Seaport Res Ptn reaffirmed a “buy” rating on shares of IPG Photonics in a research note on Thursday, January 25th. Stifel Nicolaus dropped their price target on IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. StockNews.com downgraded IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Citigroup downgraded IPG Photonics from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $111.00 to $74.00 in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.20.

View Our Latest Stock Analysis on IPGP

About IPG Photonics

(Get Free Report)

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.

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