- Benchmark analyst Mark Miller maintained IPG Photonics Corp IPGP with a Buy and raised the price target from $130 to $140.
- IPG's Q4 sales and adjusted earnings of $1.08 per diluted share were upsides to investor expectations.
- IPG posted charges and adjustments related to long-lived assets in Russia, an asset divestiture, and a foreign exchange gain.
- China and Germany's sales were down double digits sequentially and Y/Y, but North American and Japanese sales were up sequentially.
- Revenue declined in China due to lower demand in cutting and marking applications, partially offset by growth in welding and cleaning applications. Currency translations and COVID-related restrictions also negatively impacted revenue in China.
- Sales decreased slightly in North America year-over-year, as growth in cutting, welding, and medical applications was offset by lower sales in non-laser systems, advanced applications, and the divestiture of the telecom business.
- High-power laser sales fell by a double-digit percent sequentially and Y/Y, while pulsed, QCW, other lasers, and other product sales were up sequentially. The decline was due to softer demand in cutting, partially offset by growth in welding applications.
- IPG ended 2022 with a record backlog of $811 million.
- Once again, demand was strong for medical and EV applications.
- A recovery in China combined with growth in EV and medical sales, and recently introduced products are seen driving 23% Y/Y bottom line growth to an EPS of $6.38 in 2024.
- Price Action: IPGP shares traded higher by 1.55% at $127.49 on the last check Wednesday.
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IPGPIPG Photonics Corp
$66.01-%
Edge Rankings
Momentum
23.56
Growth
7.00
Quality
Not Available
Value
11.05
Price Trend
Short
Medium
Long
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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