IPG Photonics (NASDAQ:IPGP) Posts Earnings Results

IPG Photonics (NASDAQ:IPGP) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15, FiscalAI reports. IPG Photonics had a return on equity of 3.39% and a net margin of 2.58%. The company had revenue of $287.50 million during the quarter, compared to analysts’ expectations of $283.31 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis.

IPG Photonics Trading Up 0.6%

IPGP stock traded up $0.41 during mid-day trading on Tuesday, reaching $73.33. The company’s stock had a trading volume of 36,648 shares, compared to its average volume of 495,201. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 111.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. The business’s 50 day moving average price is $76.38 and its 200 day moving average price is $100.78. IPG Photonics has a 12 month low of $68.27 and a 12 month high of $155.82.

Analysts Set New Price Targets

IPGP has been the topic of several analyst reports. Needham & Company LLC upped their target price on IPG Photonics from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 17th. Citigroup reduced their price objective on shares of IPG Photonics from $150.00 to $137.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a research note on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.60.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Fibre Devices Ltd Ip sold 18,111 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $96.12, for a total transaction of $1,740,829.32. Following the transaction, the insider directly owned 6,405,989 shares in the company, valued at approximately $615,743,662.68. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eugene Scherbakov sold 3,048 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $85.30, for a total transaction of $259,994.40. Following the sale, the director directly owned 45,162 shares of the company’s stock, valued at approximately $3,852,318.60. This trade represents a 6.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 63,917 shares of company stock valued at $5,382,488 over the last 90 days. 37.50% of the stock is currently owned by corporate insiders.

About IPG Photonics

IPG Photonics Corporation (NASDAQ:IPGP) develops and manufactures high-performance fiber lasers, laser systems, optical amplifiers and related components. Its product portfolio includes single-mode and multi-mode fiber lasers, pulsed lasers, diode lasers, beam-delivery systems and other specialized photonics products.

The company’s technologies are used primarily for industrial materials processing applications, including cutting, welding, marking, drilling, cladding and additive manufacturing.