IPG Photonics (NASDAQ:IPGP) Releases Q2 Earnings Guidance

IPG Photonics (NASDAQ:IPGP) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.30-0.60 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $240-270 million, compared to the consensus revenue estimate of $273.45 million.

IPG Photonics Price Performance

Shares of IPGP stock opened at $88.58 on Tuesday. The stock has a market cap of $4.08 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 17.53 and a beta of 1.19. The stock has a fifty day moving average price of $87.77 and a 200 day moving average price of $94.21. IPG Photonics has a one year low of $83.00 and a one year high of $141.85.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.06). IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The business had revenue of $298.89 million for the quarter, compared to analyst estimates of $287.03 million. During the same quarter last year, the firm posted ($1.91) earnings per share. IPG Photonics’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that IPG Photonics will post 3.23 EPS for the current year.

IPG Photonics declared that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on IPGP shares. Seaport Res Ptn reaffirmed a buy rating on shares of IPG Photonics in a research note on Thursday, January 25th. Citigroup downgraded shares of IPG Photonics from a neutral rating to a sell rating and reduced their target price for the company from $111.00 to $74.00 in a research note on Thursday, February 15th. StockNews.com cut shares of IPG Photonics from a buy rating to a hold rating in a research report on Saturday, February 17th. Finally, Stifel Nicolaus reduced their price target on shares of IPG Photonics from $130.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $117.20.

Insider Activity at IPG Photonics

In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $85.86, for a total transaction of $772,740.00. Following the sale, the insider now owns 7,200,599 shares of the company’s stock, valued at approximately $618,243,430.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 29,000 shares of company stock valued at $2,525,140 over the last ninety days. 33.50% of the stock is owned by insiders.

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.