Insider Selling: IPG Photonics Corp. Director Sells 6,667 Shares of Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) Director William F. Krupke unloaded 6,667 shares of IPG Photonics Corp. stock on the open market in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.98, for a total value of $459,889.66. Following the completion of the transaction, the director now directly owns 12,800 shares in the company, valued at approximately $882,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on IPGP shares. Analysts at Noble Financial set a $87.00 price target on shares of IPG Photonics Corp. in a research note on Wednesday, January 15th. They now have a “buy” rating on the stock. Analysts at DA Davidson raised their price target on shares of IPG Photonics Corp. from $75.00 to $83.00 in a research note on Friday, December 13th. They now have a “buy” rating on the stock.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 1.31% during mid-day trading on Thursday, hitting $68.48. The stock had a trading volume of 348,893 shares. IPG Photonics Corp. has a 1-year low of $53.28 and a 1-year high of $79.00. The stock has a 50-day moving average of $70.81 and a 200-day moving average of $65.63. The company has a market cap of $3.556 billion and a price-to-earnings ratio of 23.36.
IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings data on Thursday, February 13th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.05. The company had revenue of $165.90 million for the quarter, compared to the consensus estimate of $163.16 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts predict that IPG Photonics Corp. will post $3.56 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.
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