IPG Photonics (NASDAQ:IPGP) Issues Earnings Results, Beats Expectations By $0.10 EPS

IPG Photonics (NASDAQ:IPGP) issued its quarterly earnings data on Tuesday. The semiconductor company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10, Briefing.com reports. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The company had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. IPG Photonics updated its Q4 guidance to $0.05-0.35 EPS and its Q4 2024 guidance to 0.050-0.350 EPS.

IPG Photonics Stock Down 2.0 %

Shares of NASDAQ:IPGP traded down $1.74 during trading on Wednesday, hitting $83.31. The stock had a trading volume of 94,872 shares, compared to its average volume of 265,374. IPG Photonics has a 12-month low of $61.86 and a 12-month high of $111.11. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.86 and a beta of 1.00. The stock has a 50-day simple moving average of $71.44 and a two-hundred day simple moving average of $79.23.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IPGP shares. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. Stifel Nicolaus decreased their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. Finally, Raymond James decreased their price target on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.50.

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.