Northcoast Research Analysts Boost Earnings Estimates for IPG Photonics Corporation (IPGP)
IPG Photonics Corporation (NASDAQ:IPGP) – Investment analysts at Northcoast Research upped their Q3 2018 EPS estimates for IPG Photonics Corporation in a research report issued to clients and investors on Wednesday. Northcoast Research analyst T. Hayes now anticipates that the semiconductor company will earn $2.20 per share for the quarter, up from their previous estimate of $1.91.
A number of other research firms also recently commented on IPGP. Needham & Company LLC restated a “buy” rating and set a $146.00 price objective (up from $130.00) on shares of IPG Photonics Corporation in a report on Wednesday, May 3rd. Zacks Investment Research upgraded IPG Photonics Corporation from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Thursday, May 4th. Canaccord Genuity restated a “buy” rating and set a $152.00 price objective (up from $138.00) on shares of IPG Photonics Corporation in a report on Friday, June 16th. Macquarie downgraded IPG Photonics Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $28.00 to $24.00 in a report on Tuesday, June 6th. Finally, Dougherty & Co upped their price objective on IPG Photonics Corporation from $137.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $141.00.
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IPG Photonics Corporation (NASDAQ:IPGP) opened at 160.74 on Friday. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 26.92 and a beta of 1.70. IPG Photonics Corporation has a 12-month low of $80.52 and a 12-month high of $167.00. The company has a 50-day moving average price of $149.09 and a 200-day moving average price of $129.91.
IPG Photonics Corporation (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.63 by $0.28. The business had revenue of $369.37 million during the quarter, compared to analyst estimates of $333.06 million. IPG Photonics Corporation had a return on equity of 19.75% and a net margin of 26.84%. The company’s quarterly revenue was up 46.1% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share.
Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in IPG Photonics Corporation by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 12,784 shares of the semiconductor company’s stock worth $1,262,000 after buying an additional 2,695 shares during the last quarter. Prudential Financial Inc. increased its stake in IPG Photonics Corporation by 535.8% in the first quarter. Prudential Financial Inc. now owns 144,187 shares of the semiconductor company’s stock worth $17,403,000 after buying an additional 121,510 shares during the last quarter. Morgan Stanley increased its stake in IPG Photonics Corporation by 31.8% in the first quarter. Morgan Stanley now owns 247,448 shares of the semiconductor company’s stock worth $29,867,000 after buying an additional 59,731 shares during the last quarter. HighTower Advisors LLC purchased a new stake in IPG Photonics Corporation during the first quarter worth about $549,000. Finally, Louisiana State Employees Retirement System increased its stake in IPG Photonics Corporation by 3.3% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the semiconductor company’s stock worth $1,147,000 after buying an additional 300 shares during the last quarter. 60.05% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Alexander Ovtchinnikov sold 12,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.30, for a total transaction of $1,923,600.00. Following the completion of the sale, the senior vice president now directly owns 83,595 shares of the company’s stock, valued at approximately $13,400,278.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Angelo P. Lopresti sold 4,626 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $138.00, for a total transaction of $638,388.00. Following the sale, the senior vice president now directly owns 37,765 shares of the company’s stock, valued at $5,211,570. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,775 shares of company stock valued at $8,227,386. 34.20% of the stock is owned by corporate 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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