IPG Photonics Co. (NASDAQ:IPGP) Short Interest Update

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

IPG Photonics Price Performance

IPGP opened at $88.23 on Wednesday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 17.88 and a beta of 1.19. The business’s 50-day moving average price is $91.49 and its two-hundred day moving average price is $95.76. IPG Photonics has a 1 year low of $83.00 and a 1 year high of $141.85.

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 analysts’ consensus estimates of $0.95 by ($0.06). The firm had revenue of $298.89 million for the quarter, compared to the consensus estimate of $287.03 million. IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.91) earnings per share. Sell-side analysts anticipate that IPG Photonics will post 3.23 earnings per share for the current fiscal year.

IPG Photonics announced that its board has initiated a share buyback plan on Tuesday, February 13th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at IPG Photonics

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the sale, the insider now owns 7,209,599 shares in the company, valued at $645,691,686.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.56, for a total transaction of $895,600.00. Following the transaction, the insider now owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Meurice sold 629 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $100.00, for a total transaction of $62,900.00. Following the transaction, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,649,100. The disclosure for this sale can be found here. Insiders have sold 20,629 shares of company stock worth $1,815,300 in the last three months. Insiders own 33.50% of the company’s stock.

Institutional Trading of IPG Photonics

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in IPG Photonics by 77.4% in the 1st quarter. JPMorgan Chase & Co. now owns 51,443 shares of the semiconductor company’s stock valued at $5,645,000 after buying an additional 22,446 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of IPG Photonics by 21.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the semiconductor company’s stock valued at $370,000 after acquiring an additional 592 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of IPG Photonics by 24.7% in the first quarter. MetLife Investment Management LLC now owns 9,842 shares of the semiconductor company’s stock valued at $1,080,000 after acquiring an additional 1,951 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in IPG Photonics by 309.6% during the first quarter. Panagora Asset Management Inc. now owns 8,876 shares of the semiconductor company’s stock worth $974,000 after acquiring an additional 6,709 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in IPG Photonics by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,779 shares of the semiconductor company’s stock valued at $525,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 93.79% of the company’s stock.

Analysts Set New Price Targets

IPGP has been the topic of several recent analyst reports. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. StockNews.com lowered IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Finally, Citigroup downgraded shares of IPG Photonics from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $111.00 to $74.00 in a report on Thursday, February 15th. One 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’s stock. According to MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and an average target price of $117.20.

Check Out Our Latest Analysis on IPG Photonics

IPG Photonics Company Profile

(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.

Further Reading

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