IPG Photonics Corporation (IPGP) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.25 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.19. The company posted revenue of $252.80 million in the period, compared to analysts expectations of $243.43 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.
Many Wall Street Analysts have commented on IPG Photonics Corporation. Company shares were Upgraded by Canaccord Genuity on Jun 29, 2016 to ” Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .FBR Capital Initiated IPG Photonics Corporation on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $92.
IPG Photonics Corporation closed down -0.01 points or -0.01% at $84.25 with 4,85,267 shares getting traded on Thursday. Post opening the session at $87.18, the shares hit an intraday low of $83.59 and an intraday high of $88.76 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 5, 2016, Angelo P Lopresti (SVP, Secretary & Gen Counsel) sold 4,000 shares at $95.54 per share price. According to the SEC, on Apr 27, 2016, Henry E Gauthier (director) sold 10,001 shares at $100.42 per share price. On Apr 25, 2016, Alexander Ovtchinnikov (SVP, Components) sold 3,584 shares at $99.12 per share price, according to the Form-4 filing with the securities and exchange commission.
IPG Photonics Corporation is a developer and manufacturer of a range of fiber lasers fiber amplifiers and diode lasers that are used for various applications primarily in materials processing. The Company offers a line of lasers and amplifiers which are used in materials processing advanced communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs) system integrators and end users and markets its products internationally through direct sales force. It designs and manufactures packaged diodes direct diode lasers laser systems communications systems and materials processing laser systems that utilize its optical fiber-based products as well as other laser sources. It also manufactures complementary products used with its lasers including optical delivery cables fiber couplers beam switches optical processing heads and chillers.