IPG Photonics (NASDAQ:IPGP) Issues Q2 Earnings Guidance

IPG Photonics (NASDAQ:IPGP) updated its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.30-0.60 for the period, compared to the consensus EPS 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 Stock Up 0.1 %

IPGP traded up $0.06 during trading on Friday, reaching $86.76. The company had a trading volume of 253,550 shares, compared to its average volume of 295,084. IPG Photonics has a 52 week low of $80.33 and a 52 week high of $141.85. The stock has a market cap of $3.95 billion, a P/E ratio of 22.36, a PEG ratio of 16.87 and a beta of 1.17. The business has a 50 day simple moving average of $87.69 and a 200-day simple moving average of $93.97.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $255.53 million. During the same period in the previous year, the company earned $1.26 EPS. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. As a group, equities research analysts expect that IPG Photonics will post 3.17 EPS for the current fiscal year.

IPG Photonics announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on IPGP shares. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Citigroup decreased their target price on IPG Photonics from $74.00 to $68.00 and set a sell rating for the company in a research report on Thursday. Stifel Nicolaus lowered their price objective on shares of IPG Photonics from $130.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, February 14th. Needham & Company LLC reiterated a hold rating on shares of IPG Photonics in a report on Wednesday. Finally, Benchmark reduced their price target on shares of IPG Photonics from $116.00 to $106.00 and set a buy rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $110.40.

Insider Activity

In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock in a transaction 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the transaction, the insider now directly owns 7,209,599 shares in the company, valued at $645,691,686.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric Meurice sold 788 shares of IPG Photonics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $89.30, for a total value of $70,368.40. Following the sale, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The disclosure for this sale can be found here. Insiders have sold a total of 29,788 shares of company stock worth $2,595,508 over the last 90 days. 37.10% of the stock is currently 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.