Insider Selling: Valentin Gapontsev Trust I Sells 10,500 Shares of IPG Photonics Corp. Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 10,500 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $58.64, for a total transaction of $615,720.00. Following the completion of the transaction, the insider now directly owns 7,982,500 shares of the company’s stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. IPG Photonics Corp. has an average rating of “Buy” and a consensus price target of $67.71.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 2.44% during mid-day trading on Monday, hitting $59.56. 354,286 shares of the company’s stock traded hands. IPG Photonics Corp. has a 1-year low of $51.34 and a 1-year high of $70.11. The stock’s 50-day moving average is $58.0 and its 200-day moving average is $60.38. The company has a market cap of $3.070 billion and a P/E ratio of 20.78.
IPG Photonics Corp. (NASDAQ:IPGP) last posted its quarterly 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. On average, analysts predict that IPG Photonics Corp. will post $3.10 earnings per share 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.