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

IPG Photonics (NASDAQ:IPGP) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IPGP shares. Needham & Company LLC restated a hold rating on shares of IPG Photonics in a research report on Wednesday. StockNews.com cut IPG Photonics from a buy rating to a hold rating in a report on Saturday, February 17th. Benchmark cut their price target on IPG Photonics from $116.00 to $106.00 and set a buy rating for the company in a report on Wednesday. Stifel Nicolaus reduced their price objective on IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, February 14th. Finally, Citigroup dropped their target price on IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, IPG Photonics presently has a consensus rating of Moderate Buy and a consensus target price of $110.40.

IPG Photonics Price Performance

IPGP traded up $0.06 during trading hours on Friday, reaching $86.76. The company’s stock had a trading volume of 253,550 shares, compared to its average volume of 295,084. The stock has a market cap of $3.95 billion, a PE ratio of 22.36, a P/E/G ratio of 16.87 and a beta of 1.17. IPG Photonics has a fifty-two week low of $80.33 and a fifty-two week high of $141.85. The business’s 50-day moving average is $87.69 and its 200-day moving average is $93.97.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $255.53 million. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. IPG Photonics’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. Analysts expect that IPG Photonics will post 3.17 EPS for the current year.

IPG Photonics declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction 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 sale, the insider now directly owns 7,219,599 shares in the company, valued at $618,575,242.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the transaction, the insider now directly owns 7,219,599 shares of the company’s stock, valued at $618,575,242.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the director now directly owns 16,491 shares in the company, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. Insiders sold 29,788 shares of company stock valued at $2,595,508 in the last 90 days. Company insiders own 37.10% 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.