IPG Photonics (NASDAQ:IPGP) Updates 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 (EPS) guidance of $0.30-0.60 for the period, compared to the consensus 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 2.3 %

Shares of NASDAQ:IPGP traded up $1.95 on Thursday, reaching $85.50. The company had a trading volume of 135,326 shares, compared to its average volume of 292,780. The stock has a market capitalization of $3.90 billion, a P/E ratio of 21.53, a P/E/G ratio of 16.66 and a beta of 1.17. The stock has a 50-day moving average price of $87.66 and a 200 day moving average price of $94.08. IPG Photonics has a twelve month low of $80.33 and a twelve month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating 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 company 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 posted $1.26 earnings per share. The company’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, sell-side analysts predict that IPG Photonics will post 3.23 earnings per share for the current fiscal year.

IPG Photonics declared that its board has approved a share buyback plan on Tuesday, February 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IPGP. Stifel Nicolaus dropped their price target 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. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Benchmark dropped their target price on shares of IPG Photonics from $116.00 to $106.00 and set a buy rating on the stock in a research report on Wednesday. Citigroup lowered shares of IPG Photonics from a neutral rating to a sell rating and dropped their target price for the stock from $111.00 to $74.00 in a research report on Thursday, February 15th. Finally, Needham & Company LLC reiterated a hold rating on shares of IPG Photonics in a research note on Wednesday. One 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $111.60.

Insider Activity at IPG Photonics

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

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.