IPG Photonics (NASDAQ:IPGP) Issues Quarterly Earnings Results

IPG Photonics (NASDAQ:IPGP) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.03), Briefing.com reports. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The firm had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. During the same period in the prior year, the firm earned $1.31 EPS. IPG Photonics’s revenue for the quarter was down 24.2% compared to the same quarter last year. IPG Photonics updated its Q3 guidance to $0.00-0.30 EPS and its Q3 2024 guidance to 0.000-0.300 EPS.

IPG Photonics Price Performance

NASDAQ:IPGP traded up $0.84 during midday trading on Wednesday, hitting $82.04. The company’s stock had a trading volume of 46,832 shares, compared to its average volume of 265,228. IPG Photonics has a fifty-two week low of $79.80 and a fifty-two week high of $132.99. The firm’s 50 day moving average is $85.74 and its 200-day moving average is $88.81. The firm has a market cap of $3.74 billion, a P/E ratio of 20.93 and a beta of 1.01.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several research reports. Citigroup reduced their price target on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Benchmark cut shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.40.

Insider Buying and Selling

In related news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the transaction, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The sale was disclosed in a filing with the SEC, which is available through this link. 38.00% 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.