IPG Photonics Corporation (NASDAQ:IPGP - Get Free Report) major shareholder Valentin Gapontsev Trust I sold 6,020 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $75.18, for a total value of $452,583.60. Following the completion of the sale, the insider directly owned 6,636,866 shares of the company's stock, valued at $498,959,585.88. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Valentin Gapontsev Trust I also recently made the following trade(s):
- On Tuesday, November 3rd, Valentin Gapontsev Trust I sold 14,632 shares of IPG Photonics stock. The shares were sold at an average price of $75.18, for a total value of $1,100,033.76.
- On Wednesday, September 2nd, Valentin Gapontsev Trust I sold 9,306 shares of IPG Photonics stock. The shares were sold at an average price of $75.95, for a total transaction of $706,790.70.
- On Tuesday, September 1st, Valentin Gapontsev Trust I sold 18,091 shares of IPG Photonics stock. The shares were sold at an average price of $75.14, for a total transaction of $1,359,357.74.
IPG Photonics Price Performance
Shares of IPGP stock opened at $70.11 on Thursday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 1.79 and a beta of 1.00. The company's fifty day simple moving average is $76.42 and its two-hundred day simple moving average is $100.71. IPG Photonics Corporation has a 1 year low of $67.70 and a 1 year high of $155.82.
IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.12. The firm had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. IPG Photonics had a return on equity of 3.91% and a net margin of 3.65%. The business's revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Equities research analysts anticipate that IPG Photonics Corporation will post 1.86 EPS for the current year.
Institutional Trading of IPG Photonics
Several institutional investors and hedge funds have recently modified their holdings of IPGP. State Street Corp lifted its position in IPG Photonics by 11.0% during the second quarter. State Street Corp now owns 909,287 shares of the semiconductor company's stock valued at $106,678,000 after purchasing an additional 90,028 shares during the last quarter. Assenagon Asset Management S.A. raised its position in IPG Photonics by 759.3% during the third quarter. Assenagon Asset Management S.A. now owns 182,823 shares of the semiconductor company's stock valued at $14,311,000 after purchasing an additional 161,547 shares in the last quarter. Trillium Asset Management LLC bought a new stake in IPG Photonics during the second quarter worth about $3,938,000. Renaissance Technologies LLC lifted its stake in IPG Photonics by 173.8% during the first quarter. Renaissance Technologies LLC now owns 85,700 shares of the semiconductor company's stock worth $9,820,000 after purchasing an additional 54,400 shares during the last quarter. Finally, Westport Asset Management Inc. bought a new stake in IPG Photonics during the second quarter worth about $9,092,000. Hedge funds and other institutional investors own 93.79% of the company's stock.
Key IPG Photonics News
Here are the key news stories impacting IPG Photonics this week:
- Positive Sentiment: Q3 adjusted earnings were $0.61 per share, ahead of the $0.49 consensus, while revenue of about $288 million also exceeded estimates and rose roughly 15% year over year. Semiconductor laser revenue more than doubled, and industrial and advanced-solutions demand supported growth. Article: IPG Photonics: 3 Key Takeaways for Long-Term Investors
- Neutral Sentiment: Needham lowered its price target to $105 from $120 but maintained a Buy rating. The reduced target is a headwind, although the new target still implies substantial upside from the price cited in the report. Article: Needham price target update
- Neutral Sentiment: Major shareholder Valentin Gapontsev Trust I sold shares under a pre-arranged Rule 10b5-1 plan. The reported sales were small relative to its remaining stake of more than 6.6 million shares, limiting the signal’s significance. SEC Form 4 filing
- Negative Sentiment: Despite the earnings beat, the Q3 deep dive noted that guidance reflects near-term caution. That outlook may be prompting investors to focus on potential near-term softness rather than the quarter’s growth. Article: IPGP Q3 deep dive
Wall Street Analyst Weigh In
IPGP has been the topic of several analyst reports. Needham & Company LLC decreased their price target on IPG Photonics from $120.00 to $105.00 and set a "buy" rating on the stock in a research report on Wednesday. Weiss Ratings restated a "sell (d+)" rating on shares of IPG Photonics in a research report on Monday, September 21st. Finally, Citigroup reduced their price objective on shares of IPG Photonics from $150.00 to $137.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IPG Photonics presently has a consensus rating of "Moderate Buy" and an average price target of $139.60.
Read Our Latest Report on IPGP
About IPG Photonics
(
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IPG Photonics Corporation (NASDAQ:IPGP) develops and manufactures high-performance fiber lasers, laser systems, optical amplifiers and related components. Its product portfolio includes single-mode and multi-mode fiber lasers, pulsed lasers, diode lasers, beam-delivery systems and other specialized photonics products.
The company's technologies are used primarily for industrial materials processing applications, including cutting, welding, marking, drilling, cladding and additive manufacturing.
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