IPG Photonics Corporation (IPGP) Expected to Post Quarterly Sales of $366.23 Million
Equities research analysts forecast that IPG Photonics Corporation (NASDAQ:IPGP) will announce sales of $366.23 million for the current quarter, according to Zacks. Four analysts have provided estimates for IPG Photonics Corporation’s earnings, with the highest sales estimate coming in at $372.10 million and the lowest estimate coming in at $360.00 million. IPG Photonics Corporation posted sales of $266.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 37.7%. The company is expected to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that IPG Photonics Corporation will report full-year sales of $366.23 million for the current fiscal year, with estimates ranging from $1.34 billion to $1.35 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.47 billion per share, with estimates ranging from $1.44 billion to $1.54 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover IPG Photonics Corporation.
IPG Photonics Corporation (NASDAQ:IPGP) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The company had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same quarter last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 46.1% on a year-over-year basis.
Several research firms have commented on IPGP. ValuEngine lowered IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus restated a “hold” rating and set a $170.00 price target (up from $165.00) on shares of IPG Photonics Corporation in a report on Friday, September 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $152.00 price objective (up previously from $138.00) on shares of IPG Photonics Corporation in a research note on Friday, June 16th. Benchmark Co. reaffirmed a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC upped their price objective on IPG Photonics Corporation from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $150.25.
In other news, Director William S. Hurley sold 8,167 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total transaction of $1,350,985.14. Following the completion of the sale, the director now directly owns 12,672 shares in the company, valued at $2,096,202.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Alexander Ovtchinnikov sold 12,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the sale, the senior vice president now owns 83,595 shares of the company’s stock, valued at $13,400,278.50. The disclosure for this sale can be found here. In the last three months, insiders sold 62,017 shares of company stock valued at $10,070,761. Insiders own 33.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC bought a new stake in IPG Photonics Corporation during the second quarter valued at $145,000. Chicago Partners Investment Group LLC acquired a new stake in IPG Photonics Corporation during the 2nd quarter worth about $152,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IPG Photonics Corporation by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,380 shares of the semiconductor company’s stock worth $200,000 after acquiring an additional 131 shares during the period. Visionary Asset Management Inc. acquired a new stake in IPG Photonics Corporation during the 2nd quarter worth about $209,000. Finally, Cigna Investments Inc. New acquired a new stake in IPG Photonics Corporation during the 2nd quarter worth about $213,000. Institutional investors and hedge funds own 59.07% of the company’s stock.
Shares of IPG Photonics Corporation (NASDAQ:IPGP) opened at 187.49 on Wednesday. IPG Photonics Corporation has a 1-year low of $81.00 and a 1-year high of $187.77. The company has a market capitalization of $10.09 billion, a P/E ratio of 31.39 and a beta of 1.68. The company’s 50 day moving average is $175.99 and its 200-day moving average is $148.47.
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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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