IPG Photonics (NASDAQ:IPGP) Announces Quarterly Earnings Results

IPG Photonics (NASDAQ:IPGP) released its quarterly earnings data on Tuesday. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10, Briefing.com reports. The company had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. IPG Photonics’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. IPG Photonics updated its Q4 guidance to $0.05-0.35 EPS and its Q4 2024 guidance to 0.050-0.350 EPS.

IPG Photonics Stock Up 2.6 %

Shares of IPGP stock traded up $2.09 on Friday, hitting $83.05. The company had a trading volume of 121,081 shares, compared to its average volume of 266,457. IPG Photonics has a twelve month low of $61.86 and a twelve month high of $111.11. The company has a 50-day moving average price of $71.90 and a 200-day moving average price of $79.27. The firm has a market cap of $3.59 billion, a P/E ratio of -23.85 and a beta of 1.00.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Raymond James cut their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.50.

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.