IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) major shareholder Valentin Gapontsev Trust I sold 47,901 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $76.13, for a total transaction of $3,646,703.13. Following the transaction, the insider owned 6,926,099 shares of the company’s stock, valued at $527,283,916.87. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, November 18th, Valentin Gapontsev Trust I sold 47,901 shares of IPG Photonics stock. The shares were sold at an average price of $76.13, for a total transaction 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 transaction 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 transaction of $1,444,584.33.
- On Wednesday, October 15th, Valentin Gapontsev Trust I sold 17,707 shares of IPG Photonics stock. The shares were sold at an average price of $85.09, for a total transaction 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 value 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 value of $1,143,900.60.
- On Monday, September 15th, Valentin Gapontsev Trust I sold 52,320 shares of IPG Photonics stock. The stock was sold at an average price of $80.71, for a total value of $4,222,747.20.
IPG Photonics Stock Performance
NASDAQ IPGP traded up $0.05 during trading hours on Wednesday, hitting $75.84. The company had a trading volume of 221,289 shares, compared to its average volume of 282,550. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -15.48, a PEG ratio of 23.95 and a beta of 1.04. IPG Photonics Corporation has a 52 week low of $48.59 and a 52 week high of $92.21. The firm has a 50 day simple moving average of $83.63 and a 200 day simple moving average of $76.27.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Roth Capital set a $96.00 price target on shares of IPG Photonics and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of IPG Photonics in a research report on Thursday, November 13th. Citigroup raised IPG Photonics from a “sell” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $105.00 in a research note on Wednesday, November 5th. Stifel Nicolaus set a $92.00 target price on IPG Photonics in a research note on Tuesday, November 4th. Finally, Sanford C. Bernstein upgraded IPG Photonics from a “market perform” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.33.
Check Out Our Latest Analysis on IPGP
Institutional Trading of IPG Photonics
A number of hedge funds have recently bought and sold shares of IPGP. True Wealth Design LLC grew its position in IPG Photonics by 1,621.7% during the second quarter. True Wealth Design LLC now owns 396 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 373 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of IPG Photonics by 51.1% in the 3rd quarter. Versant Capital Management Inc now owns 343 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 116 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of IPG Photonics by 207.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 290 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of IPG Photonics during the 1st quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC raised its position in IPG Photonics by 348.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 744 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 578 shares during the period. Institutional investors 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.
Recommended Stories
- Five stocks we like better than IPG Photonics
- What is MarketRank� How to Use it
- HIMS Has Been a Roller Coaster Ride. Should Investors Hop On?
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- End the Year Strong With These 3 Comeback Champions
- Find and Profitably Trade Stocks at 52-Week Lows
- Down 45% Year-to-Date, Novo Nordisk Ignites a Price War
Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.
