Zacks Research Comments on IPG Photonics Co.’s Q2 2024 Earnings (NASDAQ:IPGP)

IPG Photonics Co. (NASDAQ:IPGP) – Equities researchers at Zacks Research reduced their Q2 2024 EPS estimates for shares of IPG Photonics in a research note issued on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.61. The consensus estimate for IPG Photonics’ current full-year earnings is $2.77 per share. Zacks Research also issued estimates for IPG Photonics’ Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $2.74 EPS, Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.94 EPS and Q1 2026 earnings at $0.93 EPS.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The company had revenue of $252.00 million during the quarter, compared to the consensus estimate of $255.53 million. During the same period in the previous year, the business earned $1.26 EPS. IPG Photonics’s revenue for the quarter was down 27.4% on a year-over-year basis.

Several other analysts also recently weighed in on the stock. Citigroup reduced their price objective on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a research report on Thursday, May 2nd. StockNews.com downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. Needham & Company LLC reissued a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. Finally, Stifel Nicolaus lowered their target price on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Stock Down 2.0 %

IPGP stock opened at $86.03 on Wednesday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 22.17 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 has a 50 day moving average price of $87.86 and a 200 day moving average price of $93.84.

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

Insiders Place Their Bets

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the sale, the insider now directly owns 7,209,599 shares in the company, valued at $645,691,686.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Eric Meurice sold 788 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $89.30, for a total value of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at approximately $1,472,646.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,788 shares of company stock worth $1,738,708. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On IPG Photonics

A number of large investors have recently bought and sold shares of the stock. Raymond James & Associates purchased a new position in shares of IPG Photonics during the 3rd quarter worth $314,000. Orion Portfolio Solutions LLC acquired a new stake in IPG Photonics in the 3rd quarter worth about $332,000. Assenagon Asset Management S.A. grew its holdings in IPG Photonics by 7.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 33,370 shares of the semiconductor company’s stock valued at $3,388,000 after buying an additional 2,371 shares during the period. Arizona State Retirement System increased its stake in shares of IPG Photonics by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 8,755 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 118 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of IPG Photonics during the 3rd quarter worth about $2,291,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

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.