IPG Photonics Corporation (NASDAQ:IPGP – Get Free Report) major shareholder Valentin Gapontsev Trust I sold 39,384 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $77.63, for a total transaction of $3,057,379.92. Following the completion of the sale, the insider owned 6,886,715 shares in the company, valued at $534,615,685.45. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Tuesday, December 16th, Valentin Gapontsev Trust I sold 27,116 shares of IPG Photonics stock. The stock was sold at an average price of $77.06, for a total transaction of $2,089,558.96.
- On Tuesday, November 18th, Valentin Gapontsev Trust I sold 47,901 shares of IPG Photonics stock. The shares were sold at an average price of $76.13, for a total transaction of $3,646,703.13.
- On Tuesday, November 18th, Valentin Gapontsev Trust I sold 47,901 shares of IPG Photonics stock. The stock was sold at an average price of $76.13, for a total transaction of $3,646,703.13.
- On Monday, November 17th, Valentin Gapontsev Trust I sold 18,599 shares of IPG Photonics stock. The shares were sold at an average price of $77.67, for a total value of $1,444,584.33.
- On Monday, November 17th, Valentin Gapontsev Trust I sold 18,599 shares of IPG Photonics stock. The stock was sold at an average price of $77.67, for a total value of $1,444,584.33.
- On Wednesday, October 15th, Valentin Gapontsev Trust I sold 17,707 shares of IPG Photonics stock. The stock was sold at an average price of $85.09, for a total value of $1,506,688.63.
- On Tuesday, October 14th, Valentin Gapontsev Trust I sold 16,529 shares of IPG Photonics stock. The shares were sold at an average price of $82.97, for a total value of $1,371,411.13.
- On Monday, October 13th, Valentin Gapontsev Trust I sold 32,264 shares of IPG Photonics stock. The stock was sold at an average price of $83.19, for a total value of $2,684,042.16.
IPG Photonics Trading Down 3.1%
Shares of IPGP stock opened at $74.64 on Thursday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 122.35, a PEG ratio of 19.93 and a beta of 1.02. The firm has a 50-day moving average price of $82.52 and a 200 day moving average price of $78.41. IPG Photonics Corporation has a twelve month low of $48.59 and a twelve month high of $92.21.
Hedge Funds Weigh In On IPG Photonics
Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its position in IPG Photonics by 81.3% during the 2nd quarter. Lazard Asset Management LLC now owns 1,899,461 shares of the semiconductor company’s stock worth $130,397,000 after purchasing an additional 851,869 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of IPG Photonics by 85.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,774,660 shares of the semiconductor company’s stock worth $121,830,000 after acquiring an additional 819,575 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of IPG Photonics by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,755,864 shares of the semiconductor company’s stock valued at $139,045,000 after acquiring an additional 68,366 shares during the period. Alliancebernstein L.P. raised its stake in shares of IPG Photonics by 1,918.3% in the 1st quarter. Alliancebernstein L.P. now owns 1,429,241 shares of the semiconductor company’s stock valued at $90,242,000 after acquiring an additional 1,358,428 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of IPG Photonics by 53.7% during the 2nd quarter. AQR Capital Management LLC now owns 978,577 shares of the semiconductor company’s stock valued at $67,101,000 after acquiring an additional 341,773 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
IPGP has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of IPG Photonics in a research note on Wednesday, December 10th. Roth Capital set a $96.00 target price on IPG Photonics and gave the stock a “buy” rating in a research report on Monday, October 6th. Stifel Nicolaus set a $92.00 price target on IPG Photonics in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of IPG Photonics in a report on Monday. Finally, Citigroup raised shares of IPG Photonics from a “sell” rating to a “buy” rating and raised their target price for the stock from $68.00 to $105.00 in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.33.
Check Out Our Latest Analysis on IPGP
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.
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