IPG Photonics (NASDAQ:IPGP – Get Free Report) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.00-0.30 for the period, compared to the consensus EPS 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 Trading Down 5.1 %
IPGP stock traded down $4.46 on Tuesday, hitting $83.15. 161,212 shares of the company’s stock traded hands, compared to its average volume of 264,830. IPG Photonics has a 1-year low of $79.80 and a 1-year high of $132.99. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 21.28 and a beta of 1.01. The stock has a fifty day moving average of $85.86 and a 200-day moving average of $88.94.
IPG Photonics (NASDAQ:IPGP – Get Free Report) last released its earnings results on Tuesday, April 30th. The semiconductor company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. IPG Photonics had a net margin of 15.34% and a return on equity of 7.67%. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $255.53 million. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s quarterly revenue was down 27.4% on a year-over-year basis. On average, equities research analysts anticipate that IPG Photonics will post 2.77 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on IPGP
Insider Activity at IPG Photonics
In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $85.20, for a total value of $83,922.00. Following the completion of the sale, the director now owns 4,319 shares in the company, valued at approximately $367,978.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 38.00% of the stock is owned by insiders.
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.
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