IPG Photonics (NASDAQ:IPGP) Updates 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.

IPG Photonics Price Performance

NASDAQ IPGP traded down $5.47 during trading hours on Tuesday, hitting $83.11. The company’s stock had a trading volume of 71,101 shares, compared to its average volume of 288,055. The company’s 50 day simple moving average is $87.77 and its two-hundred day simple moving average is $94.21. The company has a market cap of $3.83 billion, a P/E ratio of 19.17, a price-to-earnings-growth 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.

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

IPG Photonics announced that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Seaport Res Ptn reiterated a buy rating on shares of IPG Photonics in a report 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. Stifel Nicolaus lowered their target price on IPG Photonics from $130.00 to $115.00 and set a buy rating for the company in a research report on Wednesday, February 14th. Finally, Citigroup cut shares of IPG Photonics from a neutral rating to a sell rating and reduced their price target for the stock from $111.00 to $74.00 in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $117.20.

Insiders Place Their Bets

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $85.68, for a total transaction of $856,800.00. Following the transaction, the insider now owns 7,219,599 shares of the company’s stock, valued at approximately $618,575,242.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 29,000 shares of company stock worth $2,525,140. 33.50% of the stock is currently owned by company 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.