IPG Photonics Corp. CEO Sells $413,160 in Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) CEO Valentin P. Gapontsev sold 6,000 shares of the stock on the open market in a transaction dated Monday, August 18th. The stock was sold at an average price of $68.86, for a total transaction of $413,160.00. Following the completion of the sale, the chief executive officer now directly owns 489,931 shares of the company’s stock, valued at approximately $33,736,649. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 1.27% during mid-day trading on Thursday, hitting $70.9194. The stock had a trading volume of 95,245 shares. IPG Photonics Corp. has a one year low of $53.28 and a one year high of $79.00. The stock’s 50-day moving average is $66.37 and its 200-day moving average is $67.62. The company has a market cap of $3.697 billion and a price-to-earnings ratio of 22.58.
IPG Photonics Corp. (NASDAQ:IPGP) last posted 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 previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter 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.
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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