IPG Photonics Co. (NASDAQ:IPGP) Expected to Announce Quarterly Sales of $364.40 Million

Wall Street analysts expect that IPG Photonics Co. (NASDAQ:IPGP) will announce sales of $364.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for IPG Photonics’ earnings, with estimates ranging from $363.10 million to $365.70 million. IPG Photonics posted sales of $318.44 million in the same quarter last year, which suggests a positive year over year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings report on Friday, October 29th.

According to Zacks, analysts expect that IPG Photonics will report full year sales of $1.45 billion for the current financial year, with estimates ranging from $1.43 billion to $1.47 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.66 billion, with estimates ranging from $1.65 billion to $1.67 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for IPG Photonics.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, August 3rd. The semiconductor company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.10). IPG Photonics had a net margin of 16.24% and a return on equity of 10.32%. The company had revenue of $371.66 million during the quarter, compared to analyst estimates of $380.88 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis.

Several equities research analysts have recently commented on the stock. Canaccord Genuity decreased their target price on shares of IPG Photonics from $240.00 to $192.00 and set a “hold” rating for the company in a research report on Monday, August 9th. TheStreet raised shares of IPG Photonics from a “c+” rating to a “b-” rating in a research report on Friday, June 25th. Benchmark upped their price objective on shares of IPG Photonics from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, June 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 price objective on shares of IPG Photonics in a research report on Wednesday, August 25th. Finally, DA Davidson reduced their price objective on shares of IPG Photonics from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $220.18.

In related news, major shareholder Fibre Devices Ltd Ip sold 1,800 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $220.06, for a total value of $396,108.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Trevor Ness sold 2,600 shares of the stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $220.07, for a total transaction of $572,182.00. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of IPG Photonics by 150.4% during the 2nd quarter. Morgan Stanley now owns 376,504 shares of the semiconductor company’s stock worth $79,356,000 after acquiring an additional 226,167 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in IPG Photonics by 54.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 585,909 shares of the semiconductor company’s stock worth $123,492,000 after purchasing an additional 206,894 shares during the last quarter. FMR LLC lifted its stake in IPG Photonics by 342.7% during the first quarter. FMR LLC now owns 235,257 shares of the semiconductor company’s stock worth $35,708,000 after purchasing an additional 182,112 shares during the last quarter. Impax Asset Management Group plc lifted its stake in IPG Photonics by 39.7% during the second quarter. Impax Asset Management Group plc now owns 614,923 shares of the semiconductor company’s stock worth $128,942,000 after purchasing an additional 174,856 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in IPG Photonics by 3,068.0% in the second quarter. Rafferty Asset Management LLC now owns 164,702 shares of the semiconductor company’s stock valued at $34,714,000 after buying an additional 159,503 shares during the last quarter. 64.37% of the stock is currently owned by institutional investors and hedge funds.

IPGP stock traded down $1.15 during midday trading on Friday, hitting $172.03. The stock had a trading volume of 4,311 shares, compared to its average volume of 315,237. The firm has a market cap of $9.20 billion, a P/E ratio of 41.93 and a beta of 1.33. The company has a current ratio of 8.95, a quick ratio of 7.37 and a debt-to-equity ratio of 0.01. IPG Photonics has a 1-year low of $156.63 and a 1-year high of $262.55. The business has a fifty day moving average price of $186.78 and a two-hundred day moving average price of $202.16.

About IPG Photonics

IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.

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