Insider Selling: IPG Photonics Co. (NASDAQ:IPGP) CAO Sells $90,510.75 in Stock

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IPG Photonics Co. (NASDAQ:IPGP) CAO Thomas J. Burgomaster sold 621 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $145.75, for a total transaction of $90,510.75. Following the transaction, the chief accounting officer now directly owns 7,577 shares in the company, valued at approximately $1,104,347.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of IPGP stock opened at $148.18 on Thursday. The company has a fifty day simple moving average of $137.10. IPG Photonics Co. has a 52 week low of $104.64 and a 52 week high of $243.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.55 and a current ratio of 8.54. The stock has a market cap of $7.65 billion, a P/E ratio of 22.03, a PEG ratio of 3.26 and a beta of 2.07.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.02). The firm had revenue of $315.00 million for the quarter, compared to analyst estimates of $308.75 million. IPG Photonics had a net margin of 24.94% and a return on equity of 16.09%. IPG Photonics’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. As a group, equities analysts forecast that IPG Photonics Co. will post 5.6 earnings per share for the current fiscal year.

A number of equities analysts have recently commented on IPGP shares. Canaccord Genuity raised their target price on shares of IPG Photonics from $138.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Bank of America raised shares of IPG Photonics from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Monday, April 22nd. Needham & Company LLC raised their target price on shares of IPG Photonics from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Benchmark downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, DA Davidson raised their target price on shares of IPG Photonics to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $185.90.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in IPG Photonics by 7.3% during the 1st quarter. First Eagle Investment Management LLC now owns 1,627,820 shares of the semiconductor company’s stock valued at $247,071,000 after purchasing an additional 110,989 shares in the last quarter. Lazard Asset Management LLC grew its holdings in IPG Photonics by 1.3% during the 1st quarter. Lazard Asset Management LLC now owns 828,820 shares of the semiconductor company’s stock valued at $125,797,000 after purchasing an additional 10,637 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in IPG Photonics by 4.0% during the 4th quarter. Eagle Asset Management Inc. now owns 719,444 shares of the semiconductor company’s stock worth $81,505,000 after acquiring an additional 27,622 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in IPG Photonics by 15.6% during the 1st quarter. Carillon Tower Advisers Inc. now owns 712,934 shares of the semiconductor company’s stock worth $108,209,000 after acquiring an additional 96,046 shares in the last quarter. Finally, Norges Bank acquired a new position in IPG Photonics during the 4th quarter worth $68,325,000. 64.86% of the stock is owned by institutional investors and hedge funds.

About IPG Photonics

IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.

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