IPG Photonics Corporation (IPGP) Updates Q4 Earnings Guidance
IPG Photonics Corporation (NASDAQ:IPGP) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.55-1.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.57. The company issued revenue guidance of $330-355 million, compared to the consensus revenue estimate of $326.72 million.
IPG Photonics Corporation (NASDAQ IPGP) opened at 207.62 on Tuesday. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 34.77 and a beta of 1.68. IPG Photonics Corporation has a 52-week low of $92.88 and a 52-week high of $211.73. The stock has a 50 day moving average of $191.94 and a 200-day moving average of $159.60.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.63 by $0.28. The company had revenue of $369.37 million during the quarter, compared to the consensus estimate of $333.06 million. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, analysts forecast that IPG Photonics Corporation will post $6.66 EPS for the current year.
IPGP has been the subject of several recent analyst reports. Benchmark Co. reissued a buy rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Needham & Company LLC restated a buy rating and issued a $182.00 price target (up previously from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. ValuEngine upgraded IPG Photonics Corporation from a hold rating to a buy rating in a research note on Wednesday, September 6th. DA Davidson restated a buy rating and issued a $220.00 price target on shares of IPG Photonics Corporation in a research note on Tuesday, October 10th. Finally, Zacks Investment Research cut IPG Photonics Corporation from a buy rating to a hold rating in a research note on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. IPG Photonics Corporation currently has an average rating of Buy and a consensus target price of $170.89.
In related news, Director William S. Hurley sold 8,167 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $165.42, for a total value of $1,350,985.14. Following the sale, the director now owns 12,672 shares in the company, valued at approximately $2,096,202.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Angelo P. Lopresti sold 11,750 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $163.33, for a total value of $1,919,127.50. Following the completion of the sale, the senior vice president now owns 49,515 shares in the company, valued at approximately $8,087,284.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,017 shares of company stock worth $10,647,886. 33.80% of the stock is owned by company insiders.
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.
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