IPG Photonics (NASDAQ:IPGP) Issues Earnings Results

IPG Photonics (NASDAQ:IPGP - Get Free Report) posted its quarterly earnings results 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 firm had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. During the same period last year, the company earned $1.16 earnings per share. The business's revenue 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 Trading Down 2.0 %

IPGP stock traded down $1.74 during mid-day trading on Wednesday, hitting $83.31. 336,249 shares of the company were exchanged, compared to its average volume of 266,579. IPG Photonics has a 1-year low of $61.86 and a 1-year high of $111.11. The stock has a market capitalization of $3.80 billion, a PE ratio of 21.47 and a beta of 1.00. The business has a 50 day simple moving average of $71.44 and a 200-day simple moving average of $79.23.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IPGP shares. Raymond James decreased their price objective on shares of IPG Photonics from $127.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on IPG Photonics from $115.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Benchmark reissued a "hold" rating on shares of IPG Photonics in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.