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

IPG Photonics Corporation (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 14,632 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $75.18, for a total value of $1,100,033.76. Following the completion of the sale, the insider directly owned 6,622,234 shares of the company’s stock, valued at $497,859,552.12. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% 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 value 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 value of $706,790.70.
• On Tuesday, September 1st, Valentin Gapontsev Trust I sold 18,091 shares of IPG Photonics stock. The shares were sold at an average price of $75.14, for a total value of $1,359,357.74.

IPG Photonics Price Performance

Shares of NASDAQ IPGP traded down $4.31 during trading on Wednesday, hitting $70.11. 468,069 shares of the company were exchanged, compared to its average volume of 497,905. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 107.86, a PEG ratio of 1.75 and a beta of 1.00. IPG Photonics Corporation has a 1 year low of $67.70 and a 1 year high of $155.82. The firm’s fifty day moving average price is $76.45 and its 200 day moving average price is $100.76.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. The company had revenue of $287.50 million during the quarter, compared to the consensus estimate of $283.31 million. IPG Photonics had a net margin of 2.58% and a return on equity of 3.39%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. On average, research analysts forecast 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 have recently made changes to their positions in the stock. State of Michigan Retirement System lifted its position in IPG Photonics by 1.7% during the first quarter. State of Michigan Retirement System now owns 6,100 shares of the semiconductor company’s stock worth $699,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in IPG Photonics by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,139 shares of the semiconductor company’s stock valued at $589,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC grew its holdings in IPG Photonics by 17.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 915 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 133 shares during the period. Versant Capital Management Inc grew its holdings in IPG Photonics by 42.2% in the 3rd quarter. Versant Capital Management Inc now owns 495 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 147 shares during the period. Finally, Byrne Asset Management LLC increased its stake in shares of IPG Photonics by 13.8% during the 3rd quarter. Byrne Asset Management LLC now owns 1,348 shares of the semiconductor company’s stock valued at $113,000 after acquiring an additional 163 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

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

Analysts Set New Price Targets

IPGP has been the topic of several recent research reports. Needham & Company LLC decreased their price objective on shares of IPG Photonics from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup cut 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a report on Monday, September 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.60.

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.