IPG Photonics (NASDAQ:IPGP) issued its quarterly earnings results on Friday, February 16th. The semiconductor company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.14, Briefing.com reports. The firm had revenue of $361.10 million for the quarter, compared to analyst estimates of $345.63 million. IPG Photonics had a return on equity of 21.29% and a net margin of 24.67%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company earned $1.39 EPS. IPG Photonics updated its Q1 guidance to $1.62-1.87 EPS.
IPG Photonics (NASDAQ:IPGP) opened at $254.72 on Tuesday. The company has a current ratio of 8.82, a quick ratio of 7.27 and a debt-to-equity ratio of 0.02. IPG Photonics has a 52-week low of $116.80 and a 52-week high of $264.11. The firm has a market capitalization of $13,475.11, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.48 and a beta of 1.84.
IPGP has been the topic of several analyst reports. BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. ValuEngine upgraded IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Benchmark restated a “buy” rating and set a $255.00 price objective (up previously from $230.00) on shares of IPG Photonics in a research report on Tuesday, February 20th. Zacks Investment Research upgraded IPG Photonics from a “hold” rating to a “strong-buy” rating and set a $275.00 price objective for the company in a research report on Thursday, February 22nd. Finally, Canaccord Genuity boosted their price target on IPG Photonics from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $213.60.
In related news, insider Igor Samartsev sold 8,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $221.59, for a total transaction of $1,772,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Pv Mammen sold 2,500 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $261.53, for a total value of $653,825.00. Following the sale, the chief financial officer now owns 33,600 shares of the company’s stock, valued at approximately $8,787,408. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,734 shares of company stock worth $13,626,232. Insiders own 33.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IPGP. PNC Financial Services Group Inc. raised its holdings in shares of IPG Photonics by 6.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,791 shares of the semiconductor company’s stock worth $259,000 after buying an additional 111 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of IPG Photonics in the 2nd quarter worth approximately $306,000. Stifel Financial Corp raised its holdings in shares of IPG Photonics by 2.2% in the 2nd quarter. Stifel Financial Corp now owns 5,268 shares of the semiconductor company’s stock worth $764,000 after buying an additional 114 shares in the last quarter. State Street Corp raised its holdings in shares of IPG Photonics 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 buying an additional 19,973 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of IPG Photonics in the 2nd quarter worth approximately $352,000. 57.14% of the stock is owned by hedge funds and other institutional investors.
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About IPG Photonics
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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