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 company’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 owned 6,622,234 shares in the company, valued at approximately $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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares 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 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 stock was sold at an average price of $75.14, for a total value of $1,359,357.74.

IPG Photonics Price Performance

Shares of IPGP stock opened at $62.03 on Friday. The stock’s fifty day simple moving average is $76.17 and its 200 day simple moving average is $100.62. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 1.68 and a beta of 1.00. IPG Photonics Corporation has a one year low of $61.59 and a one year high of $155.82.

IPG Photonics (NASDAQ:IPGP) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. The firm had revenue of $287.50 million during the quarter, compared to analyst estimates of $283.31 million. IPG Photonics had a return on equity of 3.91% and a net margin of 3.65%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts anticipate that IPG Photonics Corporation will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IPGP has been the subject of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of IPG Photonics in a research report on Thursday. Sanford C. Bernstein restated an “outperform” rating and issued a $92.00 price target on shares of IPG Photonics in a research report on Thursday. 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 note on Wednesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IPG Photonics in a report on Monday, September 21st. Finally, Citigroup dropped their price objective on shares of IPG Photonics from $150.00 to $137.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Seven 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.67.

Institutional Trading of IPG Photonics

Several large investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of IPG Photonics by 11.0% in the second quarter. State Street Corp now owns 909,287 shares of the semiconductor company’s stock valued at $106,678,000 after purchasing an additional 90,028 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in IPG Photonics by 759.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 182,823 shares of the semiconductor company’s stock worth $14,311,000 after buying an additional 161,547 shares in the last quarter. Trillium Asset Management LLC acquired a new position in IPG Photonics during the 2nd quarter worth $3,938,000. Renaissance Technologies LLC boosted its position in IPG Photonics by 173.8% in the 1st quarter. Renaissance Technologies LLC now owns 85,700 shares of the semiconductor company’s stock valued at $9,820,000 after buying an additional 54,400 shares during the last quarter. Finally, Westport Asset Management Inc. bought a new position in IPG Photonics in the 2nd quarter valued at $9,092,000. Institutional investors own 93.79% of the company’s stock.

Key IPG Photonics News

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

• Positive Sentiment: Third-quarter adjusted earnings were $0.61 per share versus the $0.49 consensus, and revenue of about $288 million topped estimates and rose 14.6% year over year. Semiconductor laser revenue more than doubled. Article: IPG Photonics: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Needham cut its price target to $105 from $120 but kept a Buy rating, leaving a still-positive view while signaling a more conservative valuation. Needham analyst update
• Neutral Sentiment: Major shareholder Valentin Gapontsev Trust I sold shares worth about $1.55 million across two reported transactions. The sales were made under a pre-arranged Rule 10b5-1 plan and were small compared with its remaining stake of more than 6.6 million shares. Article: Major shareholder sells IPGP shares
• Negative Sentiment: Coverage of the quarterly results highlighted caution in the fourth-quarter outlook. That could overshadow the earnings beat by raising concerns about near-term demand and growth. Article: IPGP Q3 deep dive

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.