IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) major shareholder Valentin Gapontsev Trust I sold 17,707 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $85.09, for a total transaction of $1,506,688.63. Following the completion of the sale, the insider directly owned 6,992,599 shares in the company, valued at $595,000,248.91. This trade represents a 0.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Valentin Gapontsev Trust I also recently made the following trade(s):
- On Tuesday, October 14th, Valentin Gapontsev Trust I sold 16,529 shares of IPG Photonics stock. The shares were sold at an average price of $82.97, for a total transaction of $1,371,411.13.
- On Monday, October 13th, Valentin Gapontsev Trust I sold 32,264 shares of IPG Photonics stock. The shares were sold at an average price of $83.19, for a total transaction of $2,684,042.16.
- On Tuesday, September 16th, Valentin Gapontsev Trust I sold 14,180 shares of IPG Photonics stock. The shares were sold at an average price of $80.67, for a total transaction of $1,143,900.60.
- On Monday, September 15th, Valentin Gapontsev Trust I sold 52,320 shares of IPG Photonics stock. The shares were sold at an average price of $80.71, for a total transaction of $4,222,747.20.
IPG Photonics Price Performance
Shares of IPG Photonics stock opened at $86.22 on Thursday. The firm has a market capitalization of $3.64 billion, a PE ratio of -17.60, a price-to-earnings-growth ratio of 23.07 and a beta of 0.98. The company’s fifty day moving average price is $81.25 and its two-hundred day moving average price is $71.06. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $90.29.
Analysts Set New Price Targets
Several research firms have recently weighed in on IPGP. Sanford C. Bernstein raised shares of IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 target price on the stock in a report on Thursday, August 7th. Roth Capital set a $96.00 target price on shares of IPG Photonics and gave the stock a “buy” rating in a report on Monday, October 6th. Wall Street Zen raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of IPG Photonics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $78.50.
Get Our Latest Report on IPG Photonics
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in IPGP. Alliancebernstein L.P. lifted its position in IPG Photonics by 1,918.3% during the 1st quarter. Alliancebernstein L.P. now owns 1,429,241 shares of the semiconductor company’s stock worth $90,242,000 after buying an additional 1,358,428 shares in the last quarter. Lazard Asset Management LLC lifted its position in IPG Photonics by 81.3% during the 2nd quarter. Lazard Asset Management LLC now owns 1,899,461 shares of the semiconductor company’s stock worth $130,397,000 after buying an additional 851,869 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in IPG Photonics by 85.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,774,660 shares of the semiconductor company’s stock worth $121,830,000 after buying an additional 819,575 shares in the last quarter. M&G PLC lifted its position in IPG Photonics by 263.9% during the 2nd quarter. M&G PLC now owns 600,020 shares of the semiconductor company’s stock worth $41,401,000 after buying an additional 435,122 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in IPG Photonics by 188.6% during the 1st quarter. AQR Capital Management LLC now owns 636,804 shares of the semiconductor company’s stock worth $40,208,000 after buying an additional 416,186 shares in the last quarter. Institutional investors and hedge funds own 93.79% of the company’s stock.
IPG Photonics Company Profile
IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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