IPG Photonics Co. (NASDAQ:IPGP) Major Shareholder Sells $772,740.00 in Stock

IPG Photonics Co. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 9,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $85.86, for a total transaction of $772,740.00. Following the completion of the sale, the insider now directly owns 7,200,599 shares of the company’s stock, valued at $618,243,430.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 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, March 25th, Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock. The shares were sold at an average price of $89.56, for a total transaction of $895,600.00.
• On Friday, February 23rd, Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock. The shares were sold at an average price of $85.68, for a total transaction of $856,800.00.

IPG Photonics Trading Up 0.2 %

Shares of IPGP stock opened at $88.40 on Friday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 19.13, a PEG ratio of 17.50 and a beta of 1.19. The firm’s 50 day moving average is $87.73 and its 200 day moving average is $94.27. IPG Photonics Co. has a 12 month low of $83.00 and a 12 month high of $141.85.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $298.89 million for the quarter, compared to analysts’ expectations of $287.03 million. IPG Photonics had a net margin of 17.00% and a return on equity of 9.18%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.91) earnings per share. On average, equities analysts predict that IPG Photonics Co. will post 3.23 EPS for the current year.

IPG Photonics announced that its board has initiated a stock buyback program on Tuesday, February 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of IPG Photonics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Verdence Capital Advisors LLC lifted its stake in IPG Photonics by 8.5% in the 1st quarter. Verdence Capital Advisors LLC now owns 3,616 shares of the semiconductor company’s stock worth $328,000 after purchasing an additional 284 shares in the last quarter. LHM Inc. lifted its stake in IPG Photonics by 144.7% in the 1st quarter. LHM Inc. now owns 28,421 shares of the semiconductor company’s stock worth $2,578,000 after purchasing an additional 16,808 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in IPG Photonics by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,500 shares of the semiconductor company’s stock worth $771,000 after purchasing an additional 200 shares in the last quarter. Raymond James & Associates lifted its stake in IPG Photonics by 56.5% in the 1st quarter. Raymond James & Associates now owns 70,266 shares of the semiconductor company’s stock worth $6,372,000 after purchasing an additional 25,379 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in IPG Photonics by 2.8% in the 1st quarter. State of Michigan Retirement System now owns 7,300 shares of the semiconductor company’s stock worth $662,000 after purchasing an additional 200 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IPGP shares. Stifel Nicolaus reduced their target price on shares of IPG Photonics from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. StockNews.com downgraded shares of IPG Photonics from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Citigroup downgraded shares of IPG Photonics from a “neutral” rating to a “sell” rating and reduced their target price for the company from $111.00 to $74.00 in a research report on Thursday, February 15th. Finally, Seaport Res Ptn reissued a “buy” rating on shares of IPG Photonics in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.20.

IPG Photonics Company Profile

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; 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; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.