Insider Selling: IPG Photonics Corp. Director Unloads 1,300 Shares of Stock (IPGP)
IPG Photonics Corp. (NASDAQ:IPGP) Director Robert A. Blair unloaded 1,300 shares of IPG Photonics Corp. stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $71.04, for a total transaction of $92,352.00. Following the transaction, the director now directly owns 34,438 shares in the company, valued at approximately $2,446,476. The sale was disclosed in a document filed with the SEC, which is available at this link.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.53% on Thursday, hitting $68.94. The stock had a trading volume of 266,457 shares. 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 $66.90 and its 200-day moving average is $67.75. The company has a market cap of $3.593 billion and a price-to-earnings ratio of 21.79.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its earnings results 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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