IPG Photonics Co. to Post Q2 2024 Earnings of $0.49 Per Share, Seaport Res Ptn Forecasts (NASDAQ:IPGP)

IPG Photonics Co. (NASDAQ:IPGP) – Equities researchers at Seaport Res Ptn dropped their Q2 2024 earnings per share (EPS) estimates for IPG Photonics in a research report issued on Tuesday, April 30th. Seaport Res Ptn analyst S. Graham now expects that the semiconductor company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.95. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for IPG Photonics’ current full-year earnings is $3.17 per share. Seaport Res Ptn also issued estimates for IPG Photonics’ Q3 2024 earnings at $0.75 EPS, FY2024 earnings at $2.50 EPS, Q2 2025 earnings at $0.78 EPS, Q3 2025 earnings at $0.97 EPS and FY2025 earnings at $3.49 EPS.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. IPG Photonics had a return on equity of 7.67% and a net margin of 15.34%. The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $255.53 million. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue was down 27.4% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus cut their price objective on IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. StockNews.com cut IPG Photonics from a “buy” rating to a “hold” rating in a report on Saturday, February 17th. Benchmark cut their price objective on IPG Photonics from $116.00 to $106.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday. Finally, Citigroup dropped their target price on IPG Photonics from $74.00 to $68.00 and set a “sell” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.40.

IPG Photonics Trading Up 0.1 %

IPGP opened at $86.76 on Friday. The stock has a 50-day moving average price of $87.69 and a 200-day moving average price of $93.97. IPG Photonics has a 12-month low of $80.33 and a 12-month high of $141.85. The stock has a market capitalization of $3.95 billion, a P/E ratio of 22.36, a PEG ratio of 16.87 and a beta of 1.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its stake in shares of IPG Photonics by 1,349.8% in the 4th quarter. Raymond James & Associates now owns 44,887 shares of the semiconductor company’s stock worth $4,872,000 after buying an additional 41,791 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of IPG Photonics by 2,136.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 82,739 shares of the semiconductor company’s stock worth $8,401,000 after buying an additional 79,039 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of IPG Photonics by 70.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 56,965 shares of the semiconductor company’s stock worth $6,183,000 after buying an additional 23,595 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of IPG Photonics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,039,073 shares of the semiconductor company’s stock worth $308,587,000 after buying an additional 85,984 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of IPG Photonics in the 3rd quarter worth approximately $960,000. Institutional investors own 93.79% of the company’s stock.

Insider Buying and Selling at IPG Photonics

In other IPG Photonics news, Director Eric Meurice sold 788 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other IPG Photonics news, Director Eric Meurice sold 788 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $89.30, for a total transaction of $70,368.40. Following the completion of the transaction, the director now owns 16,491 shares of the company’s stock, valued at approximately $1,472,646.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.56, for a total value of $895,600.00. Following the completion of the transaction, the insider now directly owns 7,209,599 shares of the company’s stock, valued at approximately $645,691,686.44. The disclosure for this sale can be found here. Insiders sold 29,788 shares of company stock valued at $2,595,508 in the last 90 days. Insiders own 37.10% of the company’s stock.

IPG Photonics announced that its board has approved a stock repurchase plan on Tuesday, February 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.