Insider Selling: IPG Photonics Corp. CEO Sells 3,000 Shares of Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) CEO Valentin P. Gapontsev unloaded 3,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $70.06, for a total transaction of $210,180.00. Following the transaction, the chief executive officer now directly owns 486,931 shares in the company, valued at approximately $34,114,386. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 down 1.49% on Friday, hitting $70.15. 47,182 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 $66.46 and its 200-day moving average is $67.65. The company has a market cap of $3.656 billion and a P/E ratio of 22.39.
IPG Photonics Corp. (NASDAQ:IPGP) last posted its quarterly earnings results 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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