FY2017 EPS Estimates for IPG Photonics Corporation Raised by DA Davidson (IPGP)
IPG Photonics Corporation (NASDAQ:IPGP) – Equities researchers at DA Davidson lifted their FY2017 earnings estimates for IPG Photonics Corporation in a research note issued to investors on Tuesday. DA Davidson analyst T. Diffely now expects that the semiconductor company will post earnings of $7.05 per share for the year, up from their prior estimate of $6.65. DA Davidson has a “Buy” rating and a $235.00 price target on the stock. DA Davidson also issued estimates for IPG Photonics Corporation’s Q4 2017 earnings at $1.65 EPS, Q1 2018 earnings at $1.65 EPS, Q2 2018 earnings at $1.86 EPS, Q3 2018 earnings at $2.01 EPS, Q4 2018 earnings at $1.68 EPS, Q1 2019 earnings at $1.82 EPS, Q2 2019 earnings at $1.96 EPS and Q3 2019 earnings at $2.27 EPS.
IPG Photonics Corporation (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.32. IPG Photonics Corporation had a return on equity of 21.17% and a net margin of 27.85%. The business had revenue of $392.62 million during the quarter, compared to analyst estimates of $367.27 million. During the same period last year, the company earned $1.29 EPS. The company’s revenue for the quarter was up 47.6% on a year-over-year basis.
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Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $182.00 price target (up from $160.00) on shares of IPG Photonics Corporation in a research note on Tuesday, August 1st. Benchmark Co. reiterated a “buy” rating and issued a $230.00 price objective on shares of IPG Photonics Corporation in a research note on Wednesday. Zacks Investment Research upgraded IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 price objective on the stock in a research note on Friday, October 27th. Canaccord Genuity increased their price objective on IPG Photonics Corporation from $152.00 to $162.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $180.33.
In related news, SVP Eugene A. Shcherbakov sold 9,500 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William S. Hurley sold 8,167 shares of the firm’s stock in a transaction dated 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 owns 12,672 shares of the company’s stock, valued at approximately $2,096,202.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,017 shares of company stock worth $8,724,286. Corporate insiders own 33.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of IPG Photonics Corporation by 4.1% during the 2nd quarter. BlackRock Inc. now owns 3,078,662 shares of the semiconductor company’s stock worth $446,714,000 after purchasing an additional 121,338 shares during the last quarter. Vanguard Group Inc. grew its stake in IPG Photonics Corporation by 8.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,054,060 shares of the semiconductor company’s stock worth $443,143,000 after acquiring an additional 245,876 shares during the period. State Street Corp grew its stake in IPG Photonics Corporation by 2.1% in the 2nd quarter. State Street Corp now owns 955,383 shares of the semiconductor company’s stock worth $138,633,000 after acquiring an additional 19,973 shares during the period. Eagle Asset Management Inc. grew its stake in IPG Photonics Corporation by 5.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after acquiring an additional 37,918 shares during the period. Finally, Congress Asset Management Co. MA grew its stake in IPG Photonics Corporation by 4.0% in the 2nd quarter. Congress Asset Management Co. MA now owns 607,562 shares of the semiconductor company’s stock worth $88,157,000 after acquiring an additional 23,315 shares during the period. Hedge funds and other institutional investors own 58.94% 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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