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Recommendations
IPG Photonics price target raised to $170 from $150 at DA Davidson » 09:43
02/14/20
02/14
09:43
02/14/20
09:43
IPGP

IPG Photonics

$149.94 /

+ (+0.00%)

DA Davidson analyst…

DA Davidson analyst Thomas Diffely raised his price target on IPG Photonics to $170 and kept his Buy rating after its Q4 results and Q1 guidance, noting that while market conditions had improved, China's coronavirus has "squashed" the company's emerging recovery. The analyst still remains positive on IPG Photonics' cash generation, "pole" market share position, and cost basis leadership by a wide margin. Diffely adds that the company should be able to outperform the industry when its markets recover.

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Recommendations
IPG Photonics price target cut to $150 from $155 at Piper Sandler » 18:48
02/13/20
02/13
18:48
02/13/20
18:48
IPGP

IPG Photonics

$149.94 /

+2.9 (+1.97%)

Piper Sandler analyst…

Piper Sandler analyst Troy Jensen reiterated a Neutral rating on IPG Photonics and cut his price target on the shares to $150 from $155 after the company reported Q4 results. Jensen said that the top line Q4 results were "strong," though large impairment charges on goodwill and other long-lived assets dragged down operating margin and earnings per share resulting in a bottom line miss. The analyst noted that volatility surrounding the coronavirus played a role in the company's guidance. Jensen added that he continues to view IPG Photonics as the undisputed leader in the fiber laser market, though he still believes the company is trading at a fair valuation and believes it will continue to face "significant" competitive pressures that may result in margin compression.

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Earnings
IPG Photonics sees Q1 EPS 0c-30c, may not compare to consensus 84c » 08:04
02/13/20
02/13
08:04
02/13/20
08:04
IPGP

IPG Photonics

$147.04 /

+6.36 (+4.52%)

Sees Q1 revenue…

Sees Q1 revenue $220M-$250M, consensus $284.29M. "We believe we have significant long-term growth opportunities in welding, fine processing of electric vehicle batteries and our portfolio of new products addressing opportunities in microelectronics, medical, systems and beam delivery solutions. Current demand for our leading-edge laser solutions remains mixed, with strength in North America and emerging regions such as India and Southeast Asia offset by ongoing macro softness in Europe and Japan. Prior to the government-extended Lunar New Year holiday, there were signs that business in China was firming, with order flow having picked up in December and January. However, ongoing business disruption related to the novel coronavirus outbreak makes forecasting our business in China and the impact on global demand very challenging at this point. China is a large and important market for IPG, with repercussions for other markets, and we continue to monitor the situation closely," said Dr. Gapontsev.

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Earnings
IPG Photonics reports Q4 EPS (8c), may not compare to consensus 80c » 08:02
02/13/20
02/13
08:02
02/13/20
08:02
IPGP

IPG Photonics

$147.04 /

+6.36 (+4.52%)

Reports Q4 revenue…

Reports Q4 revenue $306.6M, consensus $287.81M. "We delivered fourth quarter revenue slightly above our guidance range on strength in the US market and new products," said Dr. Valentin Gapontsev, IPG Photonics' Chief Executive Officer. "The global macroeconomic backdrop and the competitive landscape in China both remain challenging. However, we are responding with product cost reductions and differentiated new features and accessories for our core products. Furthermore, we are leveraging one of the largest R&D investments in the laser industry to launch leading-edge laser products and systems for new markets. These new solutions, which represent about one-fifth of total sales, enhance our growth and margin profile and provide greater geographic and end market diversification."

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Conference/Events
Needham to hold company meetings at conference » 08:23
02/04/20
02/04
08:23
02/04/20
08:23
COHR

Coherent

$142.24 /

+0.63 (+0.44%)

, IIVI

II-VI

$33.77 /

+0.05 (+0.15%)

, IPGP

IPG Photonics

$132.83 /

+5.01 (+3.92%)

, LASR

nLight

$17.64 /

+0.09 (+0.51%)

Needham Company Hosted…

Needham Company Hosted Meetings at Photonics West 2020 in San Francisco on February 4.

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Downgrade
IPG Photonics downgraded to Hold from Buy at Stifel » 05:03
01/29/20
01/29
05:03
01/29/20
05:03
IPGP

IPG Photonics

$136.67 /

+1.97 (+1.46%)

Stifel analyst John…

Stifel analyst John Marchetti downgraded IPG Photonics to Hold from Buy with a price target of $151, down from $181, after taking over coverage of the name. The analyst expects the company's core markets for fiber lasers to remain under pressure in 2020, leading to another year of "sub-optimal growth" following a 2019 that was negatively impacted by challenging geographic and macroeconomic fundamentals. Upside to current estimates is limited in the near-term, Marchetti tells investors in a research note. He sees an uncertain growth outlook for IPG.

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Over a month ago
Initiation
IPG Photonics initiated with a Neutral at Piper Jaffray » 05:01
12/20/19
12/20
05:01
12/20/19
05:01
IPGP

IPG Photonics

$146.27 /

-1.14 (-0.77%)

Piper Jaffray analyst…

Piper Jaffray analyst Troy Jensen initiated coverage of IPG Photonics with a Neutral rating and $155 price target. The analyst views IPG as the "undisputed leader" in the fiber laser market. However, the company trades at a fair valuation and its success has attracted "significant" competitive pressures that could result in sustained pricing pressure, Jensen tells investors in a research note.

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Recommendations
After mid-quarter checks, Longbow says lasers 'still searching for a bottom' » 07:38
12/05/19
12/05
07:38
12/05/19
07:38
COHR

Coherent

$147.06 /

+2.2 (+1.52%)

, IPGP

IPG Photonics

$143.49 /

+3.93 (+2.82%)

Longbow analyst Nikolay…

Longbow analyst Nikolay Todorov said his mid-quarter checks indicate that industrial laser demand continues to "search for a bottom," without much success. He lowered his Q4 estimates for IPG Photonics (IPGP) to be below consensus and cautions that he thinks sales consensus for the first calendar quarter of 2020 "again looks aggressive given channel feedback." Though he foresees another round of estimates cuts for both IPG and Coherent (COHR), Todorov believes a negative stock reaction could again be muted. He keeps Neutral ratings on both laser makers mentioned.

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Over a quarter ago
Recommendations
IPG Photonics price target lowered to $150 from $175 at DA Davidson » 09:28
10/30/19
10/30
09:28
10/30/19
09:28
IPGP

IPG Photonics

$124.53 /

-19.19 (-13.35%)

DA Davidson analyst…

DA Davidson analyst Thomas Diffely lowered his price target on IPG Photonics to $150 after its Q3 earnings miss and its below-consensus guidance for Q4. The analyst notes that Q3 marked the 5th consecutive quarter of annualized revenue decline as China-led global industrial market for high-power lasers looks "extremely soft". Diffely still keeps his Buy rating on IPG Photonics with a bullish view on its long term prospects as well as the fiber laser market.

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Earnings
IPG Photonics sees Q4 EPS 55c-95c, consensus $1.13 » 08:11
10/29/19
10/29
08:11
10/29/19
08:11
IPGP

IPG Photonics

$143.72 /

+0.61 (+0.43%)

"As widely reported,…

"As widely reported, demand for industrial automation equipment remains subdued. This market softness impacted our third quarter book-to-bill ratio, which was under 1.0 and below normal seasonality. Looking forward, we will rely on our core scientific strengths and strong cash flow to optimize investment in strategic initiatives critical to the long-term success of the Company, including a greater mix of high power lasers, differentiated features and new solutions. Furthermore, we intend to focus our highly trained workforce on our new leading edge, higher margin products as they gain market acceptance, while reducing the resources deployed to manufacture lower margin products. When combined with planned cost reductions, we believe this strategy will enable us to better compete today and to capitalize on the eventual rebound in end market demand," said CEO Valentin Gapontsev. For the fourth quarter of 2019, IPG expects revenue of $270M to $300M. Revenue consensus $323.63M. The Company expects the fourth quarter tax rate to be approximately 26%. IPG anticipates delivering earnings per diluted share in the range of $0.55 to $0.95, with 52.9 million basic common shares outstanding and 53.6 million diluted common shares outstanding.

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