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

IPG Photonics (NASDAQ:IPGP) posted its quarterly earnings results on Tuesday. The semiconductor company reported $0.29 earnings per share for the quarter, topping 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 business had revenue of $233.14 million during the quarter, compared to the consensus estimate of $227.89 million. During the same period in the prior year, the company posted $1.16 EPS. The firm’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 Price Performance

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

Analysts Set New Price Targets

IPGP has been the subject of several analyst reports. Raymond James lowered 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. Stifel Nicolaus cut their price target on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research report on Wednesday. Finally, Needham & Company LLC reiterated 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 assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock 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.