IPG Photonics (NASDAQ:IPGP) Announces Quarterly Earnings Results

IPG Photonics (NASDAQ:IPGP) issued its earnings results on Tuesday. The semiconductor company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.41 by ($0.07), Briefing.com reports. The firm had revenue of $363.80 million during the quarter, compared to the consensus estimate of $352.31 million. IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. IPG Photonics updated its Q3 guidance to $1.05-1.35 EPS.

IPGP traded down $6.21 during trading hours on Wednesday, hitting $131.01. 570,380 shares of the company’s stock were exchanged, compared to its average volume of 491,750. IPG Photonics has a 1-year low of $104.64 and a 1-year high of $182.17. The firm has a 50-day moving average price of $141.71. The company has a market capitalization of $7.50 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 3.49 and a beta of 2.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.55 and a current ratio of 8.54.

In related news, CAO Thomas J. Burgomaster sold 621 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $145.75, for a total transaction of $90,510.75. Following the completion of the transaction, the chief accounting officer now owns 7,577 shares in the company, valued at $1,104,347.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $150.53, for a total transaction of $1,505,300.00. Following the transaction, the insider now owns 7,545,999 shares of the company’s stock, valued at approximately $1,135,899,229.47. The disclosure for this sale can be found here. Insiders have sold 27,274 shares of company stock valued at $4,335,153 in the last 90 days. 33.90% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on IPGP. DA Davidson reduced their price target on shares of IPG Photonics to $175.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. ValuEngine cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of IPG Photonics in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $180.40.

IPG Photonics Company Profile

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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Earnings History for IPG Photonics (NASDAQ:IPGP)

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