FY2017 Earnings Forecast for IPG Photonics Corporation Issued By DA Davidson (IPGP)
IPG Photonics Corporation (NASDAQ:IPGP) – Analysts at DA Davidson increased their FY2017 earnings estimates for IPG Photonics Corporation in a research note issued on Tuesday. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will post earnings per share of $7.05 for the year, up from their prior forecast of $6.65. DA Davidson has a “Buy” rating and a $235.00 price objective on the stock. DA Davidson also issued estimates for IPG Photonics Corporation’s Q4 2017 earnings at $1.65 EPS, Q1 2018 earnings at $1.65 EPS, Q2 2018 earnings at $1.86 EPS, Q3 2018 earnings at $2.01 EPS, Q4 2018 earnings at $1.68 EPS, Q1 2019 earnings at $1.82 EPS, Q2 2019 earnings at $1.96 EPS and Q3 2019 earnings at $2.27 EPS.
Several other brokerages have also recently weighed in on IPGP. Benchmark Co. reiterated a “buy” rating and set a $230.00 price target on shares of IPG Photonics Corporation in a research report on Wednesday. Zacks Investment Research upgraded IPG Photonics Corporation from a “hold” rating to a “strong-buy” rating and set a $240.00 price target on the stock in a research report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target (up from $182.00) on shares of IPG Photonics Corporation in a research report on Friday, October 20th. ValuEngine cut IPG Photonics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $170.00 price target (up from $165.00) on shares of IPG Photonics Corporation in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $180.33.
IPG Photonics Corporation (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.32. The firm had revenue of $392.62 million for the quarter, compared to the consensus estimate of $367.27 million. IPG Photonics Corporation had a net margin of 27.85% and a return on equity of 21.17%. The business’s revenue for the quarter was up 47.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share.
In related news, Director William S. Hurley sold 8,167 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $165.42, for a total value of $1,350,985.14. Following the transaction, the director now directly owns 12,672 shares in the company, valued at $2,096,202.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Angelo P. Lopresti sold 11,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $163.33, for a total transaction of $1,919,127.50. Following the completion of the transaction, the senior vice president now owns 49,515 shares in the company, valued at $8,087,284.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,017 shares of company stock worth $8,724,286. 33.80% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Denali Advisors LLC bought a new position in shares of IPG Photonics Corporation in the second quarter worth approximately $145,000. Elefante Mark B bought a new position in shares of IPG Photonics Corporation in the third quarter worth approximately $201,000. Fulton Bank N.A. bought a new position in shares of IPG Photonics Corporation in the third quarter worth approximately $202,000. Chicago Partners Investment Group LLC bought a new position in shares of IPG Photonics Corporation in the second quarter worth approximately $152,000. Finally, Beaumont Financial Partners LLC bought a new position in shares of IPG Photonics Corporation in the third quarter worth approximately $250,000. Institutional investors own 58.94% of the company’s stock.
IPG Photonics Corporation Company Profile
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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