IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) major shareholder Valentin Gapontsev Trust I sold 27,116 shares of IPG Photonics stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $77.06, for a total transaction of $2,089,558.96. Following the completion of the sale, the insider directly owned 6,859,599 shares in the company, valued at $528,600,698.94. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% 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 Monday, December 15th, Valentin Gapontsev Trust I sold 39,384 shares of IPG Photonics stock. The shares were sold at an average price of $77.63, for a total value of $3,057,379.92.
- 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 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 value of $3,646,703.13.
- On Monday, November 17th, Valentin Gapontsev Trust I sold 18,599 shares of IPG Photonics stock. The stock was 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 stock was 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 shares were 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 transaction 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.
IPG Photonics Trading Down 1.0%
Shares of NASDAQ IPGP traded down $0.76 during midday trading on Tuesday, hitting $77.02. The company’s stock had a trading volume of 374,150 shares, compared to its average volume of 280,589. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 126.26, a P/E/G ratio of 19.96 and a beta of 1.02. The stock has a fifty day moving average price of $82.95 and a 200 day moving average price of $78.35. IPG Photonics Corporation has a one year low of $48.59 and a one year high of $92.21.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on IPGP. Stifel Nicolaus set a $92.00 price objective on IPG Photonics in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a report on Monday. Citigroup upgraded IPG Photonics from a “sell” rating to a “buy” rating and upped their price target for the company from $68.00 to $105.00 in a research report on Wednesday, November 5th. Roth Capital set a $96.00 price target on shares of IPG Photonics and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IPG Photonics presently has a consensus rating of “Moderate Buy” and an average target price of $89.33.
Read Our Latest Report on IPGP
Institutional Trading of IPG Photonics
Large investors have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of IPG Photonics by 10.2% in the third quarter. Allworth Financial LP now owns 1,449 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 134 shares during the last quarter. Polar Asset Management Partners Inc. grew its stake in IPG Photonics by 27.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 79,721 shares of the semiconductor company’s stock worth $6,313,000 after buying an additional 17,132 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of IPG Photonics in the 3rd quarter worth $211,000. Eaton Financial Holdings Company LLC increased its holdings in shares of IPG Photonics by 28.0% in the 3rd quarter. Eaton Financial Holdings Company LLC now owns 7,292 shares of the semiconductor company’s stock worth $577,000 after buying an additional 1,595 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of IPG Photonics by 6.5% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 23,637 shares of the semiconductor company’s stock valued at $1,863,000 after buying an additional 1,436 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.
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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