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IPG Photonics Corp. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I unloaded 4,500 shares of IPG Photonics Corp. stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $70.50, for a total transaction of $317,250.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

IPG Photonics Corp. (NASDAQ:IPGP) traded down 1.49% on Friday, hitting $70.15. The stock had a trading volume of 47,182 shares. IPG Photonics Corp. has a 52 week low of $53.28 and a 52 week high of $79.00. The stock has a 50-day moving average of $66.46 and a 200-day moving average of $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 announced its earnings results 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.

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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