IPG Photonics (NASDAQ:IPGP - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.300-0.600 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $240.0 million-$270.0 million, compared to the consensus revenue estimate of $273.1 million. IPG Photonics also updated its Q2 guidance to $0.30-0.60 EPS.
IPG Photonics Stock Performance
Shares of IPGP traded down $4.60 during mid-day trading on Tuesday, reaching $83.98. The company had a trading volume of 593,943 shares, compared to its average volume of 294,509. The firm has a 50-day moving average price of $87.77 and a 200 day moving average price of $94.21. IPG Photonics has a 52 week low of $80.33 and a 52 week high of $141.85. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 17.53 and a beta of 1.19.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.06). IPG Photonics had a return on equity of 9.18% and a net margin of 17.00%. The company had revenue of $298.89 million during the quarter, compared to the consensus estimate of $287.03 million. During the same period in the prior year, the firm earned ($1.91) earnings per share. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, research analysts forecast that IPG Photonics will post 3.23 earnings per share for the current fiscal year.
IPG Photonics declared that its board has initiated a stock repurchase plan on Tuesday, February 13th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Citigroup cut IPG Photonics from a neutral rating to a sell rating and lowered their price objective for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. StockNews.com cut IPG Photonics from a buy rating to a hold rating in a research report on Saturday, February 17th. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research report on Thursday, January 25th. Finally, Stifel Nicolaus lowered 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $117.20.
View Our Latest Stock Analysis on IPG Photonics
Insider Buying and Selling at IPG Photonics
In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the business's stock in a transaction on Friday, February 23rd. The shares were 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 SEC, which is available through this link. In the last ninety days, insiders sold 29,000 shares of company stock worth $2,525,140. Insiders own 33.50% of the company's stock.
About IPG Photonics
(
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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.
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