IPG Photonics (NASDAQ:IPGP) Issues Earnings Results

IPG Photonics (NASDAQ:IPGP) posted its quarterly earnings data 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. The business had revenue of $287.50 million during the quarter, compared to the consensus estimate of $283.31 million. IPG Photonics had a return on equity of 3.39% and a net margin of 2.58%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $72.72 on Tuesday. The stock has a fifty day moving average price of $76.38 and a 200 day moving average price of $100.78. IPG Photonics has a 1-year low of $68.27 and a 1-year high of $155.82. The company has a market cap of $3.09 billion, a PE ratio of 111.89, a P/E/G ratio of 1.81 and a beta of 0.97.

Insider Activity

In other news, Director John Peeler acquired 2,710 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $73.58 per share, with a total value of $199,401.80. Following the purchase, the director owned 20,886 shares of the company’s stock, valued at $1,536,791.88. This represents a 14.91% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Valentin Gapontsev Trust I sold 18,091 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $75.14, for a total transaction of $1,359,357.74. Following the transaction, the insider owned 6,652,192 shares of the company’s stock, valued at approximately $499,845,706.88. The trade was a 0.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 63,917 shares of company stock valued at $5,382,488. 37.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup reduced their price target on shares of IPG Photonics from $150.00 to $137.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of IPG Photonics in a research report on Monday, September 21st. Finally, Needham & Company LLC lifted their price objective on shares of IPG Photonics from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.60.

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.