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 guidance of 0.300-0.600 for the period, compared to the consensus earnings per share 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.

IPG Photonics Price Performance

NASDAQ:IPGP traded down $5.47 during mid-day trading on Tuesday, reaching $83.11. The stock had a trading volume of 71,101 shares, compared to its average volume of 288,055. The stock has a market cap of $3.83 billion, a P/E ratio of 19.17, a PEG ratio of 17.53 and a beta of 1.19. The business’s 50 day moving average is $87.77 and its 200 day moving average is $94.21. IPG Photonics has a fifty-two week low of $80.33 and a fifty-two week high of $141.85.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.06). IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The business had revenue of $298.89 million for the quarter, compared to analyst estimates of $287.03 million. During the same quarter last year, the company earned ($1.91) EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts expect that IPG Photonics will post 3.23 EPS for the current year.

IPG Photonics declared that its Board of Directors has approved a share buyback plan on Tuesday, February 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on IPGP. Citigroup downgraded IPG Photonics from a neutral rating to a sell rating and lowered their price target for the company from $111.00 to $74.00 in a report on Thursday, February 15th. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, February 14th. StockNews.com cut shares of IPG Photonics from a buy rating to a hold rating in a report on Saturday, February 17th. Finally, Seaport Res Ptn restated a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $117.20.

Insider Activity at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the transaction, the insider now directly owns 7,219,599 shares of the company’s stock, valued at approximately $618,575,242.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 29,000 shares of company stock valued at $2,525,140 in the last ninety days. Insiders own 33.50% of the company’s stock.

IPG Photonics Company Profile

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.