Valentin Gapontsev Trust I Sells 16,500 Shares of IPG Photonics Co. (NASDAQ:IPGP) Stock

IPG Photonics Co. (NASDAQ:IPGP – Get Rating) major shareholder Valentin Gapontsev Trust I sold 16,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $122.20, for a total transaction of $2,016,300.00. Following the sale, the insider now directly owns 7,378,099 shares in the company, valued at approximately $901,603,697.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

IPG Photonics Trading Down 2.2 %

Shares of IPGP opened at $118.13 on Friday. IPG Photonics Co. has a 12-month low of $79.88 and a 12-month high of $134.81. The firm has a 50-day moving average price of $114.91 and a 200 day moving average price of $98.48. The firm has a market capitalization of $5.63 billion, a P/E ratio of 59.96, a P/E/G ratio of 5.49 and a beta of 1.23.

Wall Street Analysts Forecast Growth

IPGP has been the subject of several research reports. Sanford C. Bernstein lifted their price objective on shares of IPG Photonics from $100.00 to $124.00 and gave the company a “market perform” rating in a research note on Thursday, February 16th. Benchmark boosted their price target on shares of IPG Photonics from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. Citigroup boosted their price target on shares of IPG Photonics from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Stifel Nicolaus boosted their price target on shares of IPG Photonics from $110.00 to $145.00 in a report on Wednesday, February 15th. Finally, DA Davidson reaffirmed a “buy” rating on shares of IPG Photonics in a report on Tuesday, January 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in shares of IPG Photonics by 203.5% during the second quarter. Federated Hermes Inc. now owns 831,446 shares of the semiconductor company’s stock worth $78,264,000 after purchasing an additional 557,497 shares in the last quarter. Lazard Asset Management LLC increased its stake in IPG Photonics by 60.5% in the second quarter. Lazard Asset Management LLC now owns 1,103,388 shares of the semiconductor company’s stock valued at $103,861,000 after purchasing an additional 415,842 shares during the last quarter. Norges Bank purchased a new position in IPG Photonics in the fourth quarter valued at approximately $35,901,000. Caisse DE Depot ET Placement DU Quebec increased its stake in IPG Photonics by 54.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 892,900 shares of the semiconductor company’s stock valued at $84,049,000 after purchasing an additional 314,600 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of IPG Photonics by 18.9% during the first quarter. Invesco Ltd. now owns 1,701,795 shares of the semiconductor company’s stock worth $186,788,000 after acquiring an additional 270,190 shares during the last quarter. Institutional investors and hedge funds own 63.50% of the company’s stock.

About IPG Photonics

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IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.