IPG Photonics Reports First Quarter 2021 Financial Results
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IPG Photonics (IPGP) PT Lowered to $240 at Needham & Company
May 5, 2021 6:52 AM EDTNeedham & Company analyst James Ricchiuti lowered the price target on IPG Photonics (NASDAQ: IPGP) to $240.00 (from $280.00) while maintaining a Buy rating.
The analyst commented, "IPG delivered a solid Q1 report to start 2021, with revenues above guidance and EPS at the upper... More
IPG Photonics (IPGP) Tops Q1 EPS by 17c, Revenues Beat; Offers 2Q EPS/Revenue Outlook
May 4, 2021 8:02 AM EDTIPG Photonics (NASDAQ: IPGP) reported Q1 EPS of $1.26, $0.17 better than the analyst estimate of $1.09. Revenue for the quarter came in at $345.6 million versus the consensus estimate of $328.94 million.
"We were pleased to see continued strong demand in China and North America as well as a further improvement in Europe. These drove both year-over-year and sequential increases in sales, despite typical seasonality, helping us achieve our best first quarter results since 2018, which was a record year, and a solid start to 2021," said Dr. Valentin Gapontsev, IPG Photonics' Executive Chairman of the Board. "We... More
