IPG Photonics (NASDAQ:IPGP) Releases Q2 2024 Earnings Guidance

IPG Photonics (NASDAQ:IPGP) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.300-0.600 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $240.0 million-$270.0 million, compared to the consensus revenue estimate of $273.1 million. IPG Photonics also updated its Q2 guidance to $0.30-0.60 EPS.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup downgraded IPG Photonics from a neutral rating to a sell rating and cut their price objective for the stock from $111.00 to $74.00 in a report on Thursday, February 15th. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, February 14th. Seaport Res Ptn restated a buy rating on shares of IPG Photonics in a report on Thursday, January 25th. StockNews.com downgraded IPG Photonics from a buy rating to a hold rating in a report on Saturday, February 17th. Finally, Needham & Company LLC restated a hold rating on shares of IPG Photonics in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $111.60.

IPG Photonics Trading Up 3.3 %

IPG Photonics stock traded up $2.78 during trading hours on Thursday, reaching $86.33. 202,236 shares of the company were exchanged, compared to its average volume of 293,503. IPG Photonics has a 12 month low of $80.33 and a 12 month high of $141.85. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 16.66 and a beta of 1.17. The stock has a 50-day moving average of $87.66 and a 200 day moving average of $94.08.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue was down 27.4% compared to the same quarter last year. As a group, research analysts forecast that IPG Photonics will post 3.23 EPS for the current year.

IPG Photonics announced that its board has authorized a stock buyback program on Tuesday, February 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.56, for a total value of $895,600.00. Following the transaction, the insider now directly owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.56, for a total value of $895,600.00. Following the transaction, the insider now directly owns 7,209,599 shares of the company’s stock, valued at $645,691,686.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric Meurice sold 788 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now directly owns 16,491 shares in the company, valued at $1,472,646.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,788 shares of company stock valued at $2,595,508. Corporate insiders own 37.10% of the company’s stock.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.