IPG Photonics (NASDAQ:IPGP) Releases 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 guidance of $0.30-0.60 for the period, compared to the consensus earnings per share 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.

IPG Photonics Price Performance

Shares of IPG Photonics stock traded up $1.95 during trading on Thursday, hitting $85.50. 135,326 shares of the company’s stock traded hands, compared to its average volume of 292,780. IPG Photonics has a 1 year low of $80.33 and a 1 year high of $141.85. The business has a 50-day simple moving average of $87.66 and a 200-day simple moving average of $94.08. The stock has a market capitalization of $3.90 billion, a P/E ratio of 21.53, a PEG ratio of 16.66 and a beta of 1.17.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. During the same quarter last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, equities analysts predict that IPG Photonics will post 3.23 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on IPGP shares. Citigroup downgraded IPG Photonics from a neutral rating to a sell rating and cut their target price for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a hold rating on shares of IPG Photonics in a research report on Wednesday. Benchmark cut their price objective on IPG Photonics from $116.00 to $106.00 and set a buy rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded IPG Photonics from a buy rating to a hold rating in a research report on Saturday, February 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $111.60.

Insiders Place Their Bets

In related news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $85.68, for a total transaction of $856,800.00. Following the completion of the sale, the insider now directly owns 7,219,599 shares in the company, valued at approximately $618,575,242.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $85.68, for a total value of $856,800.00. Following the completion of the sale, the insider now directly owns 7,219,599 shares in the company, valued at $618,575,242.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the director now owns 16,491 shares of the company’s stock, valued at $1,472,646.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,788 shares of company stock worth $2,595,508. 37.10% 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.