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 that occurred on Tuesday, November 3rd. The stock was sold at an average price of $75.18, for a total transaction of $1,100,033.76. Following the transaction, the insider directly owned 6,622,234 shares in the company, valued at approximately $497,859,552.12. This represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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, November 2nd, Valentin Gapontsev Trust I sold 6,020 shares of IPG Photonics stock. The shares were 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 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 stock was sold at an average price of $75.14, for a total value of $1,359,357.74.

IPG Photonics Stock Down 5.8%

Shares of IPGP stock traded down $4.31 on Wednesday, reaching $70.11. 468,069 shares of the stock were exchanged, compared to its average volume of 497,905. The stock has a market cap of $2.98 billion, a P/E ratio of 107.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The firm has a 50 day moving average of $76.45 and a two-hundred day moving average of $100.76. IPG Photonics Corporation has a 1-year low of $67.70 and a 1-year high of $155.82.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. IPG Photonics had a return on equity of 3.39% and a net margin of 2.58%. The firm had revenue of $287.50 million for the quarter, compared to analysts’ expectations of $283.31 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities research analysts predict that IPG Photonics Corporation will post 1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On IPG Photonics

A number of large investors have recently modified their holdings of IPGP. BlackRock Inc. purchased a new stake in shares of IPG Photonics during the 2nd quarter valued at about $334,429,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in IPG Photonics by 50.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,055,687 shares of the semiconductor company’s stock worth $160,919,000 after acquiring an additional 693,572 shares during the period. State Street Corp boosted its holdings in IPG Photonics by 11.0% in the 2nd quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock worth $106,678,000 after acquiring an additional 90,028 shares during the period. Segall Bryant & Hamill LLC grew its position in IPG Photonics by 11.1% in the first quarter. Segall Bryant & Hamill LLC now owns 469,471 shares of the semiconductor company’s stock valued at $53,797,000 after acquiring an additional 46,935 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in IPG Photonics in the second quarter valued at approximately $35,113,000. Institutional investors and hedge funds own 93.79% of the company’s stock.

Trending Headlines about IPG Photonics

Here are the key news stories impacting IPG Photonics this week:

• Positive Sentiment: Q3 revenue rose about 15% year over year to $287.5 million, ahead of estimates, while adjusted earnings of $0.61 per share beat the $0.49 consensus and increased from $0.35 a year earlier. Semiconductor laser revenue more than doubled, pointing to strength in that product area. IPG Photonics: 3 Key Takeaways for Long-Term Investors Q3 Earnings and Revenues Top Estimates
• Neutral Sentiment: Needham lowered its price target from $120 to $105 but maintained a Buy rating. The revised target still implies substantial upside from the cited share price, although the cut tempers the bullish signal. Needham price-target update

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.