IPG Photonics (NASDAQ:IPGP - Get Free Report) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.10, Briefing.com reports. The business had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The business's quarterly revenue was down 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. 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 Performance
IPG Photonics stock traded down $1.74 during mid-day trading on Wednesday, hitting $83.31. The company's stock had a trading volume of 94,872 shares, compared to its average volume of 265,374. The company has a 50 day moving average of $71.44 and a 200-day moving average of $79.23. The stock has a market cap of $3.80 billion, a PE ratio of 21.86 and a beta of 1.00. IPG Photonics has a one year low of $61.86 and a one year high of $111.11.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective 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. Raymond James cut their price objective 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. Needham & Company LLC restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday. Finally, Benchmark restated a "hold" rating on shares of IPG Photonics in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $93.50.
Read Our Latest Stock Analysis on IPGP
About IPG Photonics
(
Get Free Report)
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.
Further Reading
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