IPG Photonics (NASDAQ:IPGP) Announces Earnings Results

IPG Photonics (NASDAQ:IPGP) posted its quarterly earnings results on Tuesday. The semiconductor company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04, Briefing.com reports. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $255.53 million. During the same quarter in the previous year, the company earned $1.26 earnings per share. The business’s revenue was down 27.4% compared to the same quarter last year. IPG Photonics updated its Q2 guidance to $0.30-0.60 EPS and its Q2 2024 guidance to 0.300-0.600 EPS.

IPG Photonics Stock Performance

NASDAQ IPGP traded down $1.11 during trading on Wednesday, hitting $82.87. The stock had a trading volume of 120,842 shares, compared to its average volume of 292,323. The company has a market capitalization of $3.82 billion, a PE ratio of 18.12, a P/E/G ratio of 17.53 and a beta of 1.19. The company’s 50-day moving average price is $87.72 and its two-hundred day moving average price is $94.15. IPG Photonics has a 12 month low of $80.33 and a 12 month high of $141.85.

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

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total value of $772,740.00. Following the sale, the insider now owns 7,200,599 shares in the company, valued at approximately $618,243,430.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have sold 29,000 shares of company stock worth $2,525,140. Corporate insiders own 33.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Benchmark decreased their price target on shares of IPG Photonics from $116.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Citigroup cut IPG Photonics from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $111.00 to $74.00 in a report on Thursday, February 15th. Seaport Res Ptn reissued a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.60.

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.