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IPG Photonics Corp. (NASDAQ:IPGP) CEO Valentin P. Gapontsev sold 6,000 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $68.86, for a total transaction of $413,160.00. Following the transaction, the chief executive officer now directly owns 489,931 shares in the company, valued at approximately $33,736,649. 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 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.

Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded up 1.98% during mid-day trading on Tuesday, hitting $70.71. The stock had a trading volume of 202,252 shares. IPG Photonics Corp. has a 1-year low of $53.28 and a 1-year high of $79.00. The stock’s 50-day moving average is $66.29 and its 200-day moving average is $67.59. The company has a market cap of $3.686 billion and a P/E ratio of 21.80.

IPG Photonics Corp. (NASDAQ:IPGP) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that IPG Photonics Corp. will post $3.56 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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