IPG Photonics (NASDAQ:IPGP) Issues Q2 Earnings Guidance

IPG Photonics (NASDAQ:IPGP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.30-0.60 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $240-270 million, compared to the consensus revenue estimate of $273.45 million. IPG Photonics also updated its Q2 2024 guidance to 0.300-0.600 EPS.

Wall Street Analysts Forecast Growth

A number of equities research 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. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research note on Thursday, January 25th. StockNews.com downgraded IPG Photonics from a buy rating to a hold rating in a research note on Saturday, February 17th. Benchmark decreased their price objective on IPG Photonics from $116.00 to $106.00 and set a buy rating for the company in a report on Wednesday. Finally, Citigroup lowered IPG Photonics from a neutral rating to a sell rating and reduced their target price for the company from $111.00 to $74.00 in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IPG Photonics presently has an average rating of Moderate Buy and a consensus price target of $111.60.

IPG Photonics Stock Down 1.1 %

IPGP stock traded down $0.90 during mid-day trading on Wednesday, hitting $83.08. The company had a trading volume of 123,789 shares, compared to its average volume of 292,388. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 17.53 and a beta of 1.19. IPG Photonics has a 12-month low of $80.33 and a 12-month high of $141.85. The company has a 50-day moving average price of $87.72 and a 200 day moving average price of $94.15.

IPG Photonics (NASDAQ:IPGP) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The firm’s revenue was down 27.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. As a group, analysts expect that IPG Photonics will post 3.23 EPS for the current year.

IPG Photonics announced that its board has approved a stock buyback plan on Tuesday, February 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at IPG Photonics

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 29,000 shares of company stock worth $2,525,140. 33.50% of the stock is owned by company insiders.

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.