IPG Photonics Corporation (NASDAQ:IPGP) SVP Angelo P. Lopresti sold 11,750 shares of IPG Photonics Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $163.33, for a total value of $1,919,127.50. Following the sale, the senior vice president now directly owns 49,515 shares of the company’s stock, valued at approximately $8,087,284.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of IPG Photonics Corporation (IPGP) traded up 1.04% during trading on Wednesday, hitting $165.33. The stock had a trading volume of 388,617 shares. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 27.68 and a beta of 1.70. The stock’s 50-day moving average is $150.87 and its 200-day moving average is $130.57. IPG Photonics Corporation has a 12-month low of $80.52 and a 12-month high of $168.93.

IPG Photonics Corporation (NASDAQ:IPGP) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. IPG Photonics Corporation had a net margin of 26.84% and a return on equity of 19.75%. The business had revenue of $369.37 million for the quarter, compared to analyst estimates of $333.06 million. During the same period last year, the business posted $1.25 EPS. IPG Photonics Corporation’s revenue was up 46.1% compared to the same quarter last year. On average, equities research analysts expect that IPG Photonics Corporation will post $6.62 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp raised its position in IPG Photonics Corporation by 35.8% in the second quarter. Synovus Financial Corp now owns 5,198 shares of the semiconductor company’s stock worth $760,000 after buying an additional 1,371 shares during the last quarter. JPMorgan Chase & Co. raised its position in IPG Photonics Corporation by 50,089.7% in the second quarter. JPMorgan Chase & Co. now owns 326,735 shares of the semiconductor company’s stock worth $47,409,000 after buying an additional 326,084 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in IPG Photonics Corporation during the second quarter worth about $11,608,000. Swiss National Bank raised its position in IPG Photonics Corporation by 1.5% in the second quarter. Swiss National Bank now owns 62,399 shares of the semiconductor company’s stock worth $9,054,000 after buying an additional 900 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in IPG Photonics Corporation by 5.3% in the second quarter. Eagle Asset Management Inc. now owns 759,708 shares of the semiconductor company’s stock worth $110,233,000 after buying an additional 37,918 shares during the last quarter. Institutional investors and hedge funds own 60.23% of the company’s stock.

Several equities analysts have recently issued reports on the company. Canaccord Genuity cut IPG Photonics Corporation from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and issued a $180.00 price objective on shares of IPG Photonics Corporation in a report on Wednesday, August 2nd. Longbow Research raised IPG Photonics Corporation from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Tuesday, June 6th. Stifel Nicolaus boosted their price objective on IPG Photonics Corporation from $135.00 to $145.00 and gave the company a “hold” rating in a report on Friday, June 30th. Finally, Dougherty & Co boosted their price objective on IPG Photonics Corporation from $137.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $141.00.

IPG Photonics Corporation Company Profile

IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.

Insider Buying and Selling by Quarter for IPG Photonics Corporation (NASDAQ:IPGP)

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