$366.23 Million in Sales Expected for IPG Photonics Corporation (IPGP) This Quarter
Analysts expect IPG Photonics Corporation (NASDAQ:IPGP) to report sales of $366.23 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for IPG Photonics Corporation’s earnings, with estimates ranging from $360.00 million to $372.10 million. IPG Photonics Corporation reported sales of $266.02 million in the same quarter last year, which indicates a positive year over year growth rate of 37.7%. The company is expected to report its next earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that IPG Photonics Corporation will report full-year sales of $366.23 million for the current year, with estimates ranging from $1.34 billion to $1.35 billion. For the next financial year, analysts expect that the firm will report sales of $1.47 billion per share, with estimates ranging from $1.44 billion to $1.54 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow IPG Photonics Corporation.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $333.06 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year.
IPGP has been the subject of several recent analyst reports. DA Davidson restated a “buy” rating and set a $220.00 target price on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. ValuEngine cut IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research cut IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 price objective (up previously from $165.00) on shares of IPG Photonics Corporation in a research note on Friday, September 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective (up previously from $182.00) on shares of IPG Photonics Corporation in a research note on Friday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. IPG Photonics Corporation has an average rating of “Buy” and a consensus price target of $162.25.
In other news, CFO Timothy Pv Mammen sold 11,600 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 42,700 shares in the company, valued at $7,130,046. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eugene A. Shcherbakov sold 9,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $198.79, for a total value of $1,888,505.00. Following the completion of the sale, the senior vice president now owns 16,957 shares in the company, valued at $3,370,882.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,017 shares of company stock worth $10,647,886. 33.80% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. APG Asset Management N.V. purchased a new stake in shares of IPG Photonics Corporation in the third quarter valued at $6,329,000. Oakbrook Investments LLC purchased a new stake in shares of IPG Photonics Corporation in the third quarter valued at $514,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of IPG Photonics Corporation in the third quarter valued at $498,000. Fulton Bank N.A. purchased a new stake in shares of IPG Photonics Corporation in the third quarter valued at $202,000. Finally, BRILLIANCE ASSET MANAGEMENT Ltd purchased a new stake in shares of IPG Photonics Corporation in the second quarter valued at $31,827,000. Institutional investors and hedge funds own 59.08% of the company’s stock.
Shares of IPG Photonics Corporation (IPGP) opened at 202.55 on Monday. The company has a 50-day moving average of $186.57 and a 200-day moving average of $155.24. IPG Photonics Corporation has a 1-year low of $82.12 and a 1-year high of $204.29. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 33.92 and a beta of 1.68.
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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