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IPG Photonics Corp. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $67.69, for a total transaction of $609,210.00. Following the sale, the insider now directly owns 7,788,499 shares in the company, valued at approximately $527,203,497. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

IPG Photonics Corp. (NASDAQ:IPGP) traded up 0.49% during mid-day trading on Wednesday, hitting $68.03. 205,798 shares of the company’s stock traded hands. 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 $66.11 and a 200-day moving average of $67.60. The company has a market cap of $3.546 billion and a price-to-earnings ratio of 21.28.

IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. The company had revenue of $192.20 million for the quarter, compared to the consensus estimate of $182.30 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 14.3% 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.

Separately, analysts at Noble Financial reiterated a “buy” rating on shares of IPG Photonics Corp. in a research note on Tuesday, July 29th. They now have a $86.00 price target on the stock.

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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