Dec. 2, 2014, 6:20 PM
- IPG Photonics (NASDAQ:IPGP) and TreeHouse Foods (NYSE:THS) will join the S&P MidCap 400 following the Dec. 9 close. The companies are replacing soon-to-be-acquired Compuware and Conversant.
- OFG Bancorp (NYSE:OFG) will be taking TreeHouse's place in the S&P SmallCap 600.
- IPGP +2.9% AH. THS +1.3%. OFG +3%.
Nov. 20, 2014, 2:42 PM
- Jefferies' Jason North has slashed his 3D Systems (DDD -1.8%) target by $4 to $42, albeit while reiterating Buy. Citing execution concerns caused by the company's recent woes, he now assigns 3D a 2016E EV/sales multiple (3.5x) that's 20% below that of peers vs. a prior 10%.
- Meanwhile, North suggests 3D printer/platform launches from the likes of H-P, Autodesk (ADSK -0.9%), and IPG Photonics (IPGP +1.7%) pose challenges for established vendors, albeit not immediately. "After speaking to most of them, we think they could grow to become major 3D printing players but see little overall impact for the next two years."
- North observes Autodesk wants its open-source Spark 3D printing software platform to become an industry standard. However, he sees it mostly being used in low-end devices initially. The CAD software giant's FQ3 report arrives after the bell.
- IPG, currently a top supplier of lasers for metal 3D printers, is working on a powder-feed printer for creating large parts. North doesn't expect a launch before 2017.
- 3D printing stocks sold off last month after H-P unveiled its Multi Jet Fusion 3D printing tech; broad availability isn't expected until 2016. At the time, UBS argued 3D Systems is more at risk than Stratasys (SSYS -1.3%), given H-P's process is "somewhat like 3D Systems' Z Corp binder jetting MJM process more than Stratasys’ Polyjet."
Oct. 28, 2014, 10:42 AM
- IPG Photonics (NASDAQ:IPGP) expects Q4 revenue of $190M-$205M and EPS of $0.86-$1.01, favorable at the midpoints to a consensus of $192.4M and $0.90.
- A $3.6M forex gain was recorded in Q3, helping EPS beat estimates in spite of a revenue miss. Also helping: Gross margin rose 40 bps Q/Q and 70 bps Y/Y to 54.6%. Not counting forex, opex rose 12% Y/Y to $35.1M (compares with 16% revenue growth).
- Demand for QCW lasers remained strong, rising 122% Y/Y. IPG attributes the growth to "successful penetration of OEMs for turbine blade drilling and, in particular, fine welding applications." High-power lasers +10%; medium-power +45%; low-power +14%; pulsed lasers +11%.
- 20%+ growth in Europe and China offset weak demand in the U.S. and Japan. Turkey and other parts of Asia also saw strong growth.
- Q3 results, PR
Oct. 28, 2014, 8:03 AM
Oct. 27, 2014, 5:30 PM
- ACI, AET, AGCO, AIXG, ALR, AME, AMTD, AN, AXE, BP, CAS, CIT, CMI, CNC, CNX, COH, CPLA, CRY, CVLT, CYNO, DD, DIN, ECL, ENTG, FCX, FDP, FLWS, FMER, GLPI, GLW, HCA, HMC, HOT, HRS, ICON, IIVI, IPGP, LH, MDSO, MLM, MMC, MSM, MSO, MWV, NBL, NCI, NVS, PCAR, PCG, PES, PFE, PH, POR, RDWR, SAIA, SAVE, SCHN, SCOR, SHW, SIRI, SNCR, ST, SYRG, TECH, TKR, TRW, TTS, TWI, UBS, UTHR, VDSI, VRTS, VSH, WAB, WHR, XYL
Oct. 17, 2014, 8:39 AM
- Firm says competition fears surrounding IPGP are “overblown."
- Notes IPGP's profitability likely to be “vastly superior” to peers.
- Stifel's Patrick Newton upgrades shares to Buy from Hold, price target $75
- Shares are -8.6% to $63.50 since Oct. 6.
- Related: IPG Photonics Continues To Grow, While Growing Its Addressable Markets (Sept. 16)
- Related: IPG Photonics: Double-Digit Growth On High Tech Lasers (Aug. 15)
Jul. 29, 2014, 8:15 AM
- IPG Photonics (NASDAQ:IPGP) Q2 results: Net Sales: $192.2M (+14.3%); Gross Profit: $104.2M (+15.9%); Operating Expenses: $35.5M (+18.3%); Operating Income: $68.7M (+14.7%); Net Income: $48.3M (+15.8%); EPS: $0.92 (+15.0%); Quick Assets: $483.4M (+7.7%); CF Ops: $76.9M (+216.5%).
- Q3 Guidance: Revenue: $190M - 205M; EPS: $0.88 - 1.03.
Jul. 29, 2014, 8:05 AM
Jul. 28, 2014, 5:30 PM
- ACI, AET, AGCO, AIXG, AKS, ALLY, AMAG, AMG, ARW, AUDC, AVX, AXE, BP, CARB, CAS, CNX, CPLA, CRS, CVLT, CYNO, DIN, DSX, ECL, ENTG, ETN, ETR, FDP, FIS, FSS, GLT, GLW, GNC, GTI, HCA, HMC, HRS, HW, ICON, IP, IPGP, ITW, KLIC, LVLT, MDC, MDSO, MDXG, MHFI, MLM, MMC, MRK, MSO, NCI, NEE, NLSN, NMM, NOV, NYT, OSK, PCAR, PFE, POR, RAI, RYN, SAVE, SIRI, SNCR, ST, TLM, TRW, UAM, UBS, UBSI, UDR, UPS, UTHR, VSH, WDR, WM, WYNN, XYL, YNDX
Apr. 29, 2014, 10:28 AM
- Though IPG Photonics (IPGP -6.4%) posted in-line Q1 EPS and beat on revenue, it's guiding for Q2 revenue of $173M-$188M and EPS of $0.77-$0.92, largely below a consensus of $188.2M and $0.90.
- The company blames softness in North American advanced and medical laser orders, and "continued competition" in the Chinese low-power pulsed laser market (it expects new products to improve its Chinese position). Those factors are offsetting strong demand for high-power cutting lasers and other products.
- Q1 gross margin was 52.3%, +310 bps Q/Q but -100 bps Y/Y. Opex rose 21% Y/Y to $31.5M, thanks in large part to a 45% increase in R&D spend to $12.8M. A $1.4M forex charge was recorded (compares with a $1.6M Q4 charge).
- Book-to-bill remained above 1. Japanese sales hit a record, and "strong growth" was also seen in Europe, China, and Turkey. But North American sales fell due to lower welding and paint-stripping laser demand.
- Q1 results, PR
Apr. 29, 2014, 8:04 AM
Apr. 28, 2014, 5:30 PM
- ABB, AGCO, AIXG, ALR, AMG, ARRY, AXE, BMY, BP, BSX, CARB, CCJ, CHKP, CIT, CMI, CNX, COH, CPLA, CRY, DBD, DDD, DORM, ESV, ETN, FDP, FLWS, FRX, GAS, GEO, GLT, GT, GTLS, HCA, HCBK, HRS, HUN, HW, IPGP, IRWD, KLIC, LG, LKQ, LRN, LYB, MGI, MGLN, MGM, MHFI, MLM, MRK, NMM, NOK, OSK, PCAR, PES, PH, POR, RESI, ROK, RTRX, RYN, S, SAVE, SCOR, SLAB, ST, TRW, UBSI, UDR, UTHR, VAC, VLO, WAT, WDR, WRLD, WWW, XYL.
Feb. 14, 2014, 12:37 PM
- IPG Photonics (IPGP +3%) is guiding for Q1 revenue of $160M-$175M and EPS of $0.69-$0.83, in-line with a consensus of $165.8M and $0.78.
- The industrial laser maker beat Q4 revenue estimates on the back of a 22% Y/Y increase in laser sales for materials processing applications (up from 19% in Q3), and a 24% increase in high-power laser sales in particular.
- EPS missed thanks in part to a 260 bps drop in gross margin to 49.2%. IPG says it took a $5.9M inventory charge during the quarter, as well as a $1.6M forex charge. At the same time, a lower tax rate provided a $0.03 EPS boost.
- Opex rose 17% Y/Y, slightly exceeding revenue growth of 14%. Q4 book-to-bill was above 1, and IPG ended the year with a backlog of $265M, +31% Y/Y.
- Q4 results, PR
Feb. 14, 2014, 8:03 AM| Comment!
Feb. 14, 2014, 12:05 AM
Feb. 13, 2014, 5:30 PM
IPGP vs. ETF Alternatives
IPG Photonics Corp develops and manufactures broad line of high-performance fiber lasers, fiber amplifiers and diode lasers that are used for diverse applications, primarily in materials processing.
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