IPG Photonics Corporation (NASDAQ:IPGP) Announces Earnings Results, Beats Estimates By $0.28 EPS

IPG Photonics Corporation (NASDAQ:IPGP) posted its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.28, MarketWatch Earnings reports. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The company had revenue of $369.37 million for the quarter, compared to the consensus estimate of $333.06 million. During the same period in the previous year, the business earned $1.25 EPS. IPG Photonics Corporation’s revenue for the quarter was up 46.1% compared to the same quarter last year. IPG Photonics Corporation updated its Q3 guidance to $1.70-1.90 EPS.

IPG Photonics Corporation (IPGP) traded down 0.45% on Friday, reaching $163.93. The company had a trading volume of 291,686 shares. IPG Photonics Corporation has a 12 month low of $80.52 and a 12 month high of $168.93. The firm has a 50 day moving average price of $153.92 and a 200-day moving average price of $132.82. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 27.45 and a beta of 1.70.

A number of research analysts recently issued reports on the company. Dougherty & Co boosted their price objective on IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $146.00 price objective (up previously from $130.00) on shares of IPG Photonics Corporation in a report on Wednesday, May 3rd. Zacks Investment Research raised IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Thursday, May 4th. Longbow Research raised IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Tuesday, June 6th. Finally, Macquarie lowered IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $24.00 in a research report on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $141.00.

In other IPG Photonics Corporation news, SVP Trevor Ness sold 5,000 shares of IPG Photonics Corporation stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $145.69, for a total value of $728,450.00. Following the sale, the senior vice president now owns 17,906 shares of the company’s stock, valued at approximately $2,608,725.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Seifert sold 2,849 shares of IPG Photonics Corporation stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $141.47, for a total value of $403,048.03. Following the completion of the sale, the director now directly owns 9,180 shares in the company, valued at approximately $1,298,694.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,099 shares of company stock worth $7,914,306 in the last ninety days. 34.20% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in IPG Photonics Corporation by 0.4% in the first quarter. Stifel Financial Corp now owns 5,154 shares of the semiconductor company’s stock valued at $624,000 after buying an additional 23 shares in the last quarter. Flinton Capital Management LLC increased its stake in IPG Photonics Corporation by 3.3% in the first quarter. Flinton Capital Management LLC now owns 1,008 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 32 shares in the last quarter. Teacher Retirement System of Texas increased its stake in IPG Photonics Corporation by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,015 shares of the semiconductor company’s stock valued at $437,000 after buying an additional 33 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in IPG Photonics Corporation by 3.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,386 shares of the semiconductor company’s stock worth $167,000 after buying an additional 44 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in IPG Photonics Corporation by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,456 shares of the semiconductor company’s stock worth $779,000 after buying an additional 49 shares in the last quarter. 60.23% of the stock is currently owned by hedge funds and other institutional investors.

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About IPG Photonics Corporation

IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.

Earnings History for IPG Photonics Corporation (NASDAQ:IPGP)

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