IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include high power lasers; 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. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; and specialized fiber laser systems for material processing applications; and optical transceiver and transponder modules for interconnecting electronic equipment, including Ethernet switches, IP routers and SONET/SDH optical transport modules within telecommunications, cable multi-system operator, and data center networking applications. Its lasers and amplifiers are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.
IPO Year: 2006
Exchange: NASDAQ
Website: ipgphotonics.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/1/2024 | Buy → Neutral | Seaport Research Partners | |
| 7/31/2024 | Buy → Hold | The Benchmark Company | |
| 2/15/2024 | $111.00 → $74.00 | Neutral → Sell | Citigroup |
| 1/25/2024 | $125.00 | Buy | Seaport Research Partners |
| 8/18/2023 | $152.00 → $111.00 | Buy → Neutral | Citigroup |
| 8/2/2023 | $170.00 | Outperform → Strong Buy | Raymond James |
| 6/14/2023 | $170.00 | Mkt Perform → Outperform | Raymond James |
| 11/1/2022 | Underperform → Mkt Perform | Raymond James | |
| 11/1/2022 | Mkt Perform → Underperform | Raymond James | |
| 5/4/2022 | $157.00 | Neutral → Buy | Citigroup |
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Focusing on Execution and Future Growth Opportunities Delivered Results At the High End of Guidance MARLBOROUGH, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the third quarter ended September 30, 2024. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data and percentages) 2024 2023 Change 2024 2023 Change Revenue $233.1 $301.4 (23)% $742.8 $988.5 (25)%Gross margin 23.2% 44.1% 33.4% 43.2% Operating (loss) income $(253.3) $55.7 NM $(222.2) $203.2 NM Operating margin (108.7)% 18.5% (29.9)% 20.6% Net (loss) income attributable to I
MARLBOROUGH, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials pro
MARLBOROUGH, Mass., July 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the second quarter ended June 30, 2024. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data and percentages) 2024 2023 Change 2024 2023 Change Revenue$257.6 $340.0 (24)% $509.7 $687.1 (26)%Gross margin 37.3% 43.4% 38.0% 42.9% Operating income$12.0 $72.1 (83)% $31.1 $147.5 (79)%Operating margin 4.7% 21.2% 6.1% 21.5% Net income attributable to IPG Photonics Corporation$20.2 $62.3 (68)% $44.3 $122.5 (64)%Earnings per diluted share$0.45 $1.31 (66)% $0.97 $2.57 (62)%
MARLBOROUGH, Mass., July 16, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its second quarter 2024 financial results before the market opens on Tuesday, July 30, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials proce
Delayed E-mobility Investments and Soft Industrial Demand Negatively Impacted Results Strong Operating Cash Flow Benefited from Working Capital Management MARLBOROUGH, Mass., April 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the first quarter ended March 31, 2024. Three Months Ended March 31, (In millions, except per share data and percentages) 2024 2023 ChangeRevenue $252.0 $347.2 (27)%Gross margin 38.7% 42.3% Operating income $19.1 $75.4 (75)%Operating margin 7.6% 21.7% Net income attributable to IPG Photonics Corporation $24.1 $60.1 (60)%Earnings per diluted share $0.52 $1.26 (59)% Mana
MARLBOROUGH, Mass., April 16, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its first quarter 2024 financial results before the market opens on Tuesday, April 30, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in material
Continued Growth in Welding and Medical Applications Working Capital Discipline Resulted in Strong Cash Flow From Operations MARLBOROUGH, Mass. , Feb. 13, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the fourth quarter ended December 31, 2023. Three Months EndedDecember 31, Twelve Months EndedDecember 31, (In millions, except per share data and percentages) 2023 2022 Change 2023 2022 ChangeRevenue$298.9 $333.5 (10)% $1,287.4 $1,429.5 (10)%Gross margin 38.2% 18.2% 42.1% 38.9% Operating income (loss)$28.8 $(88.5) NM $232.0 $169.5 37%Operating margin 9.6% (26.5)% NM 18.0% 11.9% Net income (
MARLBOROUGH, Mass., Jan. 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its fourth quarter 2023 financial results before the market opens on Tuesday, February 13, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials p
Weak Industrial Demand and Lower E-mobility Sales in China Negatively Impacted Results Gross Margin Improved to 44.1% Driven by Continued Focus on Manufacturing Costs and Efficiency MARLBOROUGH, Mass., Oct. 31, 2023 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the third quarter ended September 30, 2023. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data and percentages) 2023 2022 Change 2023 2022 ChangeRevenue $301.4 $349.0 (14)% $988.5 $1,096.0 (10)%Gross margin 44.1% 43.1% 43.2% 45.1% Operating income $55.7 $93.2 (40)% $203.2 $258.0 (21)%Operating margin
MARLBOROUGH, Mass., Oct. 17, 2023 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its third quarter 2023 financial results before the market opens on Tuesday, October 31, 2023. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in mater
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MARLBOROUGH, Mass., Nov. 20, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP), a global leader in fiber laser technology, proudly announces the release of a new laser designed specifically for additive manufacturing applications. The new laser series incorporates IPG's novel dual-beam lasers which offer independent control of the simultaneously emitted core and ring beams enabling unparalleled precision, efficiency, and reliability. IPG's capabilities in high-power lasers power these new 1 kW core, 3 kW ring (YLR-1000/3000-AMB) and 2 kW core, 2 kW ring (YLR-2000/2000-AMB) dual-beam rack lasers. The new YLR-AMB series with unique features tailored for the additive manufactu
Focusing on Execution and Future Growth Opportunities Delivered Results At the High End of Guidance MARLBOROUGH, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the third quarter ended September 30, 2024. Three Months Ended September 30, Nine Months Ended September 30, (In millions, except per share data and percentages) 2024 2023 Change 2024 2023 Change Revenue $233.1 $301.4 (23)% $742.8 $988.5 (25)%Gross margin 23.2% 44.1% 33.4% 43.2% Operating (loss) income $(253.3) $55.7 NM $(222.2) $203.2 NM Operating margin (108.7)% 18.5% (29.9)% 20.6% Net (loss) income attributable to I
MARLBOROUGH, Mass., Oct. 29, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today announced that it has signed a definitive agreement to acquire Clean-Lasersysteme GmbH (cleanLASER), a leader in laser cleaning systems. The transaction strengthens IPG's global position in high-precision laser systems for cleaning applications, an attractive growth market. Subject to satisfaction of customary closing conditions, including regulatory approval, the transaction is expected to close in the fourth quarter of 2024. The Company will provide more details on the transaction on its upcoming third-quarter earnings call, scheduled today for 10:00 a.m. ET. "This transaction will advanc
MARLBOROUGH, Mass., Oct. 15, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials pro
MARLBOROUGH, Mass., Aug. 29, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today announced that it has sold its entire interest in its Russian subsidiary, IRE-Polus. The purchaser is a group led by Softline Projects LLC and current management of IRE-Polus. The sale marks the finalization of IPG's exit from all facilities in Russia, following imposed sanctions on trade after the start of the war with Ukraine. The proceeds from the transaction are $51 million before advisory and other fees. "Our team executed flawlessly to transition our manufacturing operations after the war's outbreak without any impact to our customers. Our ability to respond to adverse events out of
MARLBOROUGH, Mass., July 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the second quarter ended June 30, 2024. Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data and percentages) 2024 2023 Change 2024 2023 Change Revenue$257.6 $340.0 (24)% $509.7 $687.1 (26)%Gross margin 37.3% 43.4% 38.0% 42.9% Operating income$12.0 $72.1 (83)% $31.1 $147.5 (79)%Operating margin 4.7% 21.2% 6.1% 21.5% Net income attributable to IPG Photonics Corporation$20.2 $62.3 (68)% $44.3 $122.5 (64)%Earnings per diluted share$0.45 $1.31 (66)% $0.97 $2.57 (62)%
MARLBOROUGH, Mass., July 16, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) will release its second quarter 2024 financial results before the market opens on Tuesday, July 30, 2024. The Company will hold a conference call to review these results at 10:00 a.m. ET on the same day. To access the call, please dial 877-407-6184 in the United States or 201-389-0877 internationally. A live webcast of the call will also be available and archived in the investor relations section of the Company's website at investor.ipgphotonics.com. About IPG Photonics Corporation IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials proce
MARLBOROUGH, Mass., May 23, 2024 (GLOBE NEWSWIRE) -- IPG Photonics (NASDAQ:IPGP), the world leader in fiber laser technology, today announced the launch of LightWELD 2000 XR, the fourth product offering within its handheld laser welding and cleaning product line. Fabricators will benefit from the increased processing speed and extended range of material thicknesses that LightWELD 2000 XR offers. More Power, More Productivity LightWELD 2000 XR is the new, superior version to the existing LightWELD 1500 XR handheld laser welder and cleaner released in 2022. The LightWELD 2000 XR offers 2 kilowatts of laser power, over 30% more than its predecessor. This extra power increases pr
Automating Repetitive Steps Helping Companies Improve Productivity and Reduce Operating Costs MARLBOROUGH, Mass., May 08, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP), the world leader in fiber laser solutions, today announced the launch of an automated cobot laser welding and cleaning system for fabrication and manufacturing industries. Turnkey Laser Automation Made EasyThe new cobot is a fully automated, laser welding and cleaning system which can be configured with any existing and future LightWELD® welding laser source. It expands IPG Photonics' industry leading LightWELD family of portable laser welders. Cobots, also called collaborative robots, are indust
The easy-to-use welder will support welding shops amid the ongoing labor shortage by unlocking the capacity of their workforce and dramatically boosting productivity Miller Electric Mfg. LLC, a leading worldwide manufacturer of arc welding products, announces the release of its OptX™ 2kW handheld laser welder, cutting-edge technology that will help fill the ongoing shortage of skilled welders across the United States and Canada and dramatically boost productivity up to five to 10 times. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240430921742/en/The Miller OptX™ 2kW handheld laser welder boosts productivity up to five to 10
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Citigroup analyst Jamie Wang maintains IPG Photonics (NASDAQ:IPGP) with a Sell and lowers the price target from $74 to $68.
Across the recent three months, 4 analysts have shared their insights on IPG Photonics (NASDAQ:IPGP), expressing a variety of opinions spanning from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 0 0 2 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 0 0 2 Analysts have recently evaluated IPG Photonics and provided 12-month price targets. The average target is $92.25, accompanied by a high estimate of $115.00 and a low estimate of $74.00. Thi
Benchmark analyst Mark Miller maintains IPG Photonics (NASDAQ:IPGP) with a Buy and lowers the price target from $116 to $106.
Needham analyst James Ricchiuti reiterates IPG Photonics (NASDAQ:IPGP) with a Hold.
Mark Gitin Appointed Next Chief Executive Officer and to Board of DirectorsCo-Founder Dr. Eugene Scherbakov to Remain a Member of the BoardMARLBOROUGH, Mass., April 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) ("IPG" or the "Company") today announced that its Board of Directors (the "Board") has appointed Mark Gitin, 57, as the next Chief Executive Officer of the Company and as a member of the Board, effective June 5, 2024. Dr. Gitin's appointment follows a robust succession planning process, which was conducted with the assistance of a leading independent search firm and considered both internal and external candidates. Following Dr. Gitin's addition, the Board will
Business Outlook and Financial Guidance "Despite a challenging first quarter, our book-to-bill was slightly above one for the first time since the first quarter last year, which may indicate that industrial demand is stabilizing and could start to improve modestly later in the year," concluded Dr. Scherbakov. For the second quarter of 2024, IPG expects revenue of $240 million to $270 million. The Company expects the second quarter tax rate to be approximately 25%, including certain discrete items. IPG anticipates delivering earnings per diluted share in the range of $0.30 to $0.60.
IPG Photonics (NASDAQ:IPGP) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.48 by 8.33 percent. The company reported quarterly sales of $252.009 million which missed the analyst consensus estimate of $254.172 million by 0.85 percent. This is a 27.41 percent decrease over sales of $347.174 million the same period last year.
Citigroup analyst Jamie Wang downgrades IPG Photonics (NASDAQ:IPGP) from Neutral to Sell and lowers the price target from $111 to $74.
Mark Gitin Appointed Next Chief Executive Officer and to Board of Directors Co-Founder Dr. Eugene Scherbakov to Remain a Member of the Board MARLBOROUGH, Mass., April 30, 2024 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) ("IPG" or the "Company") today announced that its Board of Directors (the "Board") has appointed Mark Gitin, 57, as the next Chief Executive Officer of the Company and as a member of the Board, effective June 5, 2024. Dr. Gitin's appointment follows a robust succession planning process, which was conducted with the assistance of a leading independent search firm and considered both internal and external candidates. Following Dr. Gitin's addition, the Boar
FREMONT, Calif., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") (NASDAQ:ENVX), the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, today announced two major developments related to its laser program: a non-binding Memorandum of Understanding (MOU) with IPG Photonics Corporation (NASDAQ:IPGP), the leader in high-power fiber laser technology, to collaborate to develop cutting edge, next-generation laser tooling and methods to optimize battery cell manufacturing processes and productivity, and the appointment of Manuel Leonardo, an expert in the field of laser photonics, as Senior Staff Laser Engineer. Enovix believes these two devel
Demand Recovery Strengthens, Driving Revenue of $346 Million and Earnings per Diluted Share of $1.26 Eugene A. Scherbakov to become CEO and Valentin P. Gapontsev to transition to Executive Chairman of the Board OXFORD, Mass., May 04, 2021 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today reported financial results for the first quarter ended March 31, 2021. In a separate press release, the Company announced CEO transition, which is effective immediately. Three Months Ended March 31, (In millions, except per share data and percentages) 2021 2020 ChangeRevenue $345.6 $249.2 39 %Gross margin 47.5 % 41.3 % Operating income $88.8 $44.8 98 %Operating margin 25.7 %
Eugene A. Scherbakov, COO, to become CEO Valentin P. Gapontsev, CEO, to transition to Executive Chairman of the Board and remain active OXFORD, Mass., May 04, 2021 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ:IPGP) today announced a management change, which is effective immediately. Eugene A. Scherbakov Ph.D., currently Chief Operating Officer, Managing Director of IPG Laser GmbH, Senior Vice President, Europe and Director, succeeds Valentin P. Gapontsev, Ph.D., as IPG Photonics' Chief Executive Officer. Dr. Valentin Gapontsev, founder of the Company and current CEO and Chairman of the Board, becomes Executive Chairman and continues his involvement in directing research and de
OXFORD, Mass., Jan. 07, 2021 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP) today announced that the Company has appointed Ms. Jeanmarie Desmond and Ms. Natalia Pavlova to its board of directors, effective January 7, 2021. Mr. Igor Samartsev, the Company’s chief technology officer, is stepping down from his board seat. “We are delighted to welcome Jeanmarie and Natalia to IPG’s board of directors,” said Dr. Valentin Gapontsev, the chair and chief executive officer of IPG Photonics. “Jeanmarie’s broad financial expertise and experience in a large innovation-driven company will be invaluable to our efforts to capitalize on growth opportunities across our vertical and geographi
Seaport Research Partners downgraded IPG Photonics from Buy to Neutral
The Benchmark Company downgraded IPG Photonics from Buy to Hold
Citigroup downgraded IPG Photonics from Neutral to Sell and set a new price target of $74.00 from $111.00 previously
Seaport Research Partners initiated coverage of IPG Photonics with a rating of Buy and set a new price target of $125.00
Citigroup downgraded IPG Photonics from Buy to Neutral and set a new price target of $111.00 from $152.00 previously
Raymond James upgraded IPG Photonics from Outperform to Strong Buy and set a new price target of $170.00
Raymond James upgraded IPG Photonics from Mkt Perform to Outperform and set a new price target of $170.00
Raymond James upgraded IPG Photonics from Underperform to Mkt Perform
Raymond James downgraded IPG Photonics from Mkt Perform to Underperform
Citigroup upgraded IPG Photonics from Neutral to Buy and set a new price target of $157.00