IPG Photonics Corporation(NASDAQ:IPGP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $252.79M. Analysts estimated a revenue of $243.79M. Earnings per share were $1.25. Analysts had estimated an EPS of $1.19.
In a different note, On Jun 29, 2016, Canaccord Genuity said it Upgrades its rating on IPG Photonics Corporation. In the research note, the firm Raises the price-target to $85.00 per share. The shares have been rated ‘Buy’ by the firm. FBR Capital said it Initiates Coverage on IPG Photonics Corporation, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm.
IPG Photonics Corporation (IPGP) made into the market gainers list on Thursdays trading session with the shares advancing 0.64% or 0.53 points. Due to strong positive momentum, the stock ended at $83.79, which is also near the day’s high of $83.91. The stock began the session at $83.29 and the volume stood at 1,88,315 shares. The 52-week high of the shares is $102.9 and the 52 week low is $70.21. The company has a current market capitalization of $4,447 M and it has 5,30,77,947 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Angelo P Lopresti (SVP, Secretary & Gen Counsel) sold 4,000 shares at $95.54 per share price.Also, On Jul 1, 2016, Gapontsev Trust I Valentin (10% owner) sold 22,000 shares at $80.07 per share price.On Apr 27, 2016, Henry E Gauthier (director) sold 10,001 shares at $100.42 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.