Q2 2024 EPS Estimates for IPG Photonics Co. (NASDAQ:IPGP) Reduced by Zacks Research

IPG Photonics Co. (NASDAQ:IPGP) – Research analysts at Zacks Research lowered their Q2 2024 EPS estimates for shares of IPG Photonics in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the semiconductor company will earn $0.47 per share for the quarter, down from their previous estimate of $0.61. The consensus estimate for IPG Photonics’ current full-year earnings is $2.81 per share. Zacks Research also issued estimates for IPG Photonics’ Q3 2024 earnings at $0.80 EPS, Q4 2024 earnings at $0.95 EPS, FY2024 earnings at $2.74 EPS, Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.94 EPS and Q1 2026 earnings at $0.93 EPS.

A number of other research firms have also recently commented on IPGP. Stifel Nicolaus cut their price target on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Citigroup reduced their target price on shares of IPG Photonics from $74.00 to $68.00 and set a “sell” rating on the stock in a research report on Thursday, May 2nd. Seaport Res Ptn reiterated a “buy” rating on shares of IPG Photonics in a report on Thursday, January 25th. StockNews.com downgraded IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.40.

IPG Photonics Stock Down 1.2 %

IPGP stock opened at $87.47 on Wednesday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 22.54 and a beta of 1.17. IPG Photonics has a twelve month low of $80.33 and a twelve month high of $141.85. The business’s fifty day simple moving average is $87.91 and its two-hundred day simple moving average is $93.94.

IPG Photonics (NASDAQ:IPGP) last released its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $255.53 million. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was down 27.4% on a year-over-year basis.

Institutional Investors Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in shares of IPG Photonics by 1.4% during the third quarter. Arizona State Retirement System now owns 8,755 shares of the semiconductor company’s stock valued at $889,000 after acquiring an additional 118 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in IPG Photonics by 1.2% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,302 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 123 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of IPG Photonics by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 13,300 shares of the semiconductor company’s stock worth $1,444,000 after buying an additional 130 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of IPG Photonics by 18.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 922 shares of the semiconductor company’s stock worth $102,000 after buying an additional 143 shares during the period. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of IPG Photonics by 127.2% during the third quarter. VisionPoint Advisory Group LLC now owns 259 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 145 shares during the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IPG Photonics

In other news, Director Eric Meurice sold 788 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Eric Meurice sold 788 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares in the company, valued at approximately $1,472,646.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the firm’s stock in a transaction that occurred 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 owns 7,219,599 shares of the company’s stock, valued at $618,575,242.32. The disclosure for this sale can be found here. Insiders have sold a total of 29,788 shares of company stock valued at $2,595,508 over the last ninety days. 38.00% of the stock is owned by company insiders.

IPG Photonics declared that its Board of Directors has authorized a share repurchase 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 repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.