Insider Selling: IPG Photonics Corp. CEO Unloads 4,500 Shares of Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) CEO Valentin P. Gapontsev sold 4,500 shares of IPG Photonics Corp. stock on the open market in a transaction dated Friday, April 4th. The shares were sold at an average price of $75.03, for a total transaction of $337,635.00. Following the completion of the transaction, the chief executive officer now directly owns 551,431 shares of the company’s stock, valued at approximately $41,373,868. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, 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.
Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded up 0.27% on Monday, hitting $74.45. The stock had a trading volume of 547,742 shares. IPG Photonics Corp. has a one year low of $53.28 and a one year high of $79.00. The stock has a 50-day moving average of $70.04 and a 200-day moving average of $68.44. The company has a market cap of $3.868 billion and a P/E ratio of 25.00.
IPG Photonics Corp. (NASDAQ:IPGP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue 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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