IPG Photonics (NASDAQ:IPGP – Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.00-0.30 for the period, compared to the consensus earnings per share estimate of $0.78. The company issued revenue guidance of $210-240 million, compared to the consensus revenue estimate of $285.31 million. IPG Photonics also updated its Q3 2024 guidance to 0.000-0.300 EPS.
IPG Photonics Stock Performance
Shares of IPGP stock traded down $4.46 during trading hours on Tuesday, reaching $83.15. The company had a trading volume of 161,212 shares, compared to its average volume of 264,830. The stock has a fifty day moving average of $85.86 and a 200-day moving average of $88.94. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 21.28 and a beta of 1.01. IPG Photonics has a 12-month low of $79.80 and a 12-month high of $132.99.
IPG Photonics (NASDAQ:IPGP – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 earnings per share. On average, analysts forecast that IPG Photonics will post 2.77 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on IPGP
Insider Activity
In other news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $85.20, for a total value of $83,922.00. Following the sale, the director now directly owns 4,319 shares in the company, valued at $367,978.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 38.00% of the company’s stock.
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.
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