IPG Photonics Corp. CFO Timothy Pv Mammen Sells 10,234 Shares (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) CFO Timothy Pv Mammen unloaded 10,234 shares of IPG Photonics Corp. stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $60.14, for a total value of $615,472.76. Following the completion of the transaction, the chief financial officer now directly owns 28,624 shares of the company’s stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Noble Financial upgraded shares of IPG Photonics Corp. (NASDAQ:IPGP) from a “hold” rating to a “buy” rating in a research note to investors on Thursday, September 5th. They now have a $66.00 price target on the stock, down previously from $72.00.
Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $67.71.
Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded up 1.33% on Tuesday, hitting $60.95. 217,585 shares of the company’s stock traded hands. IPG Photonics Corp. has a one year low of $51.34 and a one year high of $70.11. The stock’s 50-day moving average is $58.01 and its 200-day moving average is $60.29. The company has a market cap of $3.141 billion and a P/E ratio of 20.47.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its earnings results on Tuesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $168.20 million for the quarter, compared to the consensus estimate of $161.12 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Analysts expect that IPG Photonics Corp. will post $3.10 EPS for the current fiscal year.
IPG Photonics Corporation (NASDAQ:IPGP) is the developer and manufacturer of a range of fiber lasers, fiber amplifiers and diode lasers that are used in numerous applications in diverse end markets.
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