IPG Photonics (NASDAQ:IPGP) Major Shareholder Valentin Gapontsev Trust I Sells 14,632 Shares of Stock

IPG Photonics Corporation (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 14,632 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $75.18, for a total transaction of $1,100,033.76. Following the sale, the insider directly owned 6,622,234 shares in the company, valued at $497,859,552.12. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 shares are required to disclose their sales and purchases with the SEC.

Valentin Gapontsev Trust I also recently made the following trade(s):

• On Monday, November 2nd, Valentin Gapontsev Trust I sold 6,020 shares of IPG Photonics stock. The stock was sold at an average price of $75.18, for a total transaction of $452,583.60.
• On Wednesday, September 2nd, Valentin Gapontsev Trust I sold 9,306 shares of IPG Photonics stock. The stock was 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 stock was sold at an average price of $75.14, for a total transaction of $1,359,357.74.

IPG Photonics Stock Down 5.8%

NASDAQ:IPGP opened at $70.11 on Thursday. The company’s 50 day moving average price is $76.42 and its 200-day moving average price is $100.71. IPG Photonics Corporation has a 52 week low of $67.70 and a 52 week high of $155.82. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 74.59, a PEG ratio of 1.79 and a beta of 1.00.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. IPG Photonics had a net margin of 3.65% and a return on equity of 3.91%. The company had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, sell-side analysts anticipate that IPG Photonics Corporation will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in shares of IPG Photonics by 3.3% in the third quarter. Retirement Systems of Alabama now owns 27,201 shares of the semiconductor company’s stock worth $2,129,000 after buying an additional 863 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in IPG Photonics during the third quarter valued at approximately $356,000. Brighton Jones LLC grew its position in IPG Photonics by 42.5% during the third quarter. Brighton Jones LLC now owns 3,624 shares of the semiconductor company’s stock valued at $284,000 after buying an additional 1,081 shares during the period. Calamos Wealth Management LLC grew its position in IPG Photonics by 7.2% during the third quarter. Calamos Wealth Management LLC now owns 5,795 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 388 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in IPG Photonics during the third quarter valued at approximately $296,000. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IPGP has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a report on Monday, September 21st. Citigroup reduced their price objective on IPG Photonics from $150.00 to $137.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Needham & Company LLC reduced their price objective on IPG Photonics from $120.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IPG Photonics has a consensus rating of “Moderate Buy” and an average target price of $139.60.

Key Stories Impacting IPG Photonics

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

About IPG Photonics

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.