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

IPG Photonics (NASDAQ:IPGP) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10, Briefing.com reports. The company had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s revenue was down 22.6% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. 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 Price Performance

Shares of IPGP stock traded up $2.22 during trading on Friday, hitting $83.18. 102,621 shares of the stock traded hands, compared to its average volume of 266,370. The firm has a market capitalization of $3.60 billion, a P/E ratio of -23.85 and a beta of 1.00. The firm’s fifty day moving average price is $71.90 and its 200-day moving average price is $79.27. IPG Photonics has a 52-week low of $61.86 and a 52-week high of $111.11.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Raymond James dropped their target price on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Finally, Stifel Nicolaus dropped their target price on IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.50.

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.