IPG Photonics (NASDAQ:IPGP – Get Free Report) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03), Briefing.com reports. IPG Photonics had a return on equity of 5.99% and a net margin of 12.67%. The firm had revenue of $257.60 million for the quarter, compared to analysts’ expectations of $259.31 million. During the same period in the prior year, the firm posted $1.31 earnings per share. IPG Photonics’s revenue for the quarter was down 24.2% on a year-over-year basis. IPG Photonics updated its Q3 guidance to $0.00-0.30 EPS and its Q3 2024 guidance to 0.000-0.300 EPS.
IPG Photonics Trading Down 4.1 %
IPG Photonics stock opened at $77.08 on Friday. IPG Photonics has a 12-month low of $75.85 and a 12-month high of $114.29. The stock has a market cap of $3.41 billion, a P/E ratio of 19.87 and a beta of 1.01. The company has a 50-day moving average price of $85.59 and a 200 day moving average price of $88.75.
Insider Buying and Selling
In other IPG Photonics news, Director Jeanmarie F. Desmond sold 985 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $85.20, for a total transaction of $83,922.00. Following the completion of the transaction, the director now owns 4,319 shares of the company’s stock, valued at $367,978.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. 38.00% of the stock is owned by company insiders.
Analyst Ratings Changes
View Our Latest Research Report on IPG Photonics
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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