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 EPS guidance of 0.300-0.600 for the period, compared to the consensus EPS 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 Stock Down 3.6 %

Shares of IPG Photonics stock traded down $3.17 during trading on Tuesday, reaching $85.41. The company’s stock had a trading volume of 336,870 shares, compared to its average volume of 291,079. IPG Photonics has a 1-year low of $80.33 and a 1-year high of $141.85. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 17.53 and a beta of 1.19. The company has a 50-day simple moving average of $87.77 and a two-hundred day simple moving average of $94.21.

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

IPG Photonics declared that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of IPG Photonics from a buy rating to a hold rating in a research report on Saturday, February 17th. Citigroup downgraded IPG Photonics from a neutral rating to a sell rating and reduced their price objective for the company from $111.00 to $74.00 in a research note 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 for the company in a report on Wednesday, February 14th. Finally, Seaport Res Ptn restated a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $117.20.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.56, for a total transaction of $895,600.00. Following the sale, the insider now directly owns 7,209,599 shares in the company, valued at approximately $645,691,686.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 29,000 shares of company stock valued at $2,525,140 in the last three months. 33.50% of the stock is owned by corporate insiders.

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.