IPG Photonics Corporation (NASDAQ:IPGP) issued its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.28, MarketWatch Earnings reports. The business had revenue of $369.37 million during the quarter, compared to analyst estimates of $333.06 million. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The business’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. IPG Photonics Corporation updated its Q3 guidance to $1.70-1.90 EPS.
IPG Photonics Corporation (NASDAQ:IPGP) traded up 0.51% during midday trading on Friday, reaching $165.90. 226,795 shares of the company traded hands. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 27.78 and a beta of 1.70. IPG Photonics Corporation has a 12-month low of $80.52 and a 12-month high of $170.39. The company has a 50-day moving average price of $156.93 and a 200-day moving average price of $134.95.
Several analysts have weighed in on the stock. Canaccord Genuity boosted their target price on shares of IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Benchmark Co. reiterated a “buy” rating and set a $180.00 target price on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $182.00 target price (up previously from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Stifel Nicolaus boosted their target price on shares of IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, June 30th. Finally, Macquarie lowered shares of IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Tuesday, June 6th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $141.00.
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In other IPG Photonics Corporation news, Director Thomas J. Seifert sold 2,849 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $141.47, for a total transaction of $403,048.03. Following the transaction, the director now owns 9,180 shares in the company, valued at $1,298,694.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Timothy Pv Mammen sold 11,600 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $166.98, for a total value of $1,936,968.00. Following the transaction, the chief financial officer now owns 42,700 shares in the company, valued at approximately $7,130,046. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,699 shares of company stock worth $9,851,274. 34.20% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in IPG Photonics Corporation by 3,188.5% in the first quarter. Huntington National Bank now owns 855 shares of the semiconductor company’s stock valued at $103,000 after buying an additional 829 shares during the period. YorkBridge Wealth Partners LLC boosted its position in IPG Photonics Corporation by 13.9% in the first quarter. YorkBridge Wealth Partners LLC now owns 895 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 109 shares during the period. Denali Advisors LLC acquired a new position in IPG Photonics Corporation during the second quarter valued at $145,000. Flinton Capital Management LLC boosted its position 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 during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in IPG Photonics Corporation during the second quarter valued at $152,000. Institutional investors and hedge funds own 60.04% of the company’s stock.
IPG Photonics Corporation Company Profile
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.
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