IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) major shareholder Valentin Gapontsev Trust I sold 47,901 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $76.13, for a total value of $3,646,703.13. Following the completion of the sale, the insider directly owned 6,926,099 shares of the company’s stock, valued at $527,283,916.87. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Valentin Gapontsev Trust I also recently made the following trade(s):
- On Tuesday, November 18th, Valentin Gapontsev Trust I sold 47,901 shares of IPG Photonics stock. The stock was sold at an average price of $76.13, for a total value of $3,646,703.13.
- On Monday, November 17th, Valentin Gapontsev Trust I sold 18,599 shares of IPG Photonics stock. The shares were sold at an average price of $77.67, for a total value of $1,444,584.33.
- On Monday, November 17th, Valentin Gapontsev Trust I sold 18,599 shares of IPG Photonics stock. The shares were sold at an average price of $77.67, for a total value of $1,444,584.33.
- On Wednesday, October 15th, Valentin Gapontsev Trust I sold 17,707 shares of IPG Photonics stock. The stock was sold at an average price of $85.09, for a total value of $1,506,688.63.
- On Tuesday, October 14th, Valentin Gapontsev Trust I sold 16,529 shares of IPG Photonics stock. The stock was sold at an average price of $82.97, for a total value of $1,371,411.13.
- On Monday, October 13th, Valentin Gapontsev Trust I sold 32,264 shares of IPG Photonics stock. The stock was 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 NASDAQ:IPGP traded up $0.05 during midday trading on Wednesday, hitting $75.84. 221,289 shares of the company’s stock were exchanged, compared to its average volume of 282,550. IPG Photonics Corporation has a 12 month low of $48.59 and a 12 month high of $92.21. The company has a market cap of $3.19 billion, a PE ratio of -15.48, a price-to-earnings-growth ratio of 23.95 and a beta of 1.04. The stock has a 50 day moving average price of $83.63 and a 200-day moving average price of $76.27.
Hedge Funds Weigh In On IPG Photonics
Institutional investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its stake in IPG Photonics by 173.9% in the first quarter. Cerity Partners LLC now owns 8,299 shares of the semiconductor company’s stock valued at $524,000 after acquiring an additional 5,269 shares during the last quarter. CWM LLC raised its holdings in shares of IPG Photonics by 495.1% in the 1st quarter. CWM LLC now owns 15,258 shares of the semiconductor company’s stock worth $963,000 after purchasing an additional 12,694 shares during the period. Larson Financial Group LLC purchased a new position in IPG Photonics in the first quarter valued at approximately $39,000. Allianz Asset Management GmbH grew its holdings in IPG Photonics by 33.3% during the first quarter. Allianz Asset Management GmbH now owns 93,649 shares of the semiconductor company’s stock valued at $5,913,000 after purchasing an additional 23,372 shares during the period. Finally, Royce & Associates LP grew its holdings in IPG Photonics by 2.3% during the first quarter. Royce & Associates LP now owns 197,160 shares of the semiconductor company’s stock valued at $12,449,000 after purchasing an additional 4,420 shares during the period. Institutional investors own 93.79% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on IPGP shares. Stifel Nicolaus set a $92.00 price objective on IPG Photonics in a research note on Tuesday, November 4th. Wall Street Zen upgraded shares of IPG Photonics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Sanford C. Bernstein raised shares of IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a research 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 research report on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of IPG Photonics in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.33.
Check Out Our Latest Stock Report on IPG Photonics
About IPG Photonics
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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