Insider Selling: IPG Photonics Corp. major shareholder Sells 4,500 Shares of Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 4,500 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $70.50, for a total value of $317,250.00. Following the completion of the sale, the insider now directly owns 7,783,999 shares of the company’s stock, valued at approximately $548,771,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
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 1.58% during mid-day trading on Wednesday, hitting $71.83. 261,317 shares of the company’s stock traded hands. IPG Photonics Corp. has a 52-week low of $53.28 and a 52-week 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 $3.744 billion and a P/E ratio of 22.23.
IPG Photonics Corp. (NASDAQ:IPGP) last released its earnings data on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.80 earnings per share. IPG Photonics Corp.’s revenue was up 14.3% compared to the same quarter last year. 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.
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.