IPG Photonics (NASDAQ:IPGP) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

IPG Photonics (NASDAQ:IPGP) announced its quarterly earnings results on Tuesday. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10, Briefing.com reports. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The firm had revenue of $233.14 million during the quarter, compared to analyst estimates of $227.89 million. During the same quarter in the previous year, the business earned $1.16 EPS. IPG Photonics’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 Up 2.6 %

Shares of IPG Photonics stock traded up $2.09 on Friday, hitting $83.05. 121,081 shares of the company were exchanged, compared to its average volume of 266,457. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of -23.85 and a beta of 1.00. The company has a 50-day moving average price of $71.90 and a 200 day moving average price of $79.27. IPG Photonics has a 1-year low of $61.86 and a 1-year high of $111.11.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. 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 reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. 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. Finally, Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IPG Photonics currently has an average rating of “Hold” and a consensus 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.