Insider Selling: IPG Photonics Corp. (IPGP) SVP Sells $538,220.70 in Stock
IPG Photonics Corp. (NASDAQ:IPGP) SVP Angelo P. Lopresti sold 5,589 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $96.30, for a total value of $538,220.70. Following the completion of the sale, the senior vice president now owns 41,693 shares of the company’s stock, valued at $4,015,035.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of IPG Photonics Corp. (NASDAQ:IPGP) opened at 94.84 on Friday. The stock has a market capitalization of $5.04 billion, a PE ratio of 20.71 and a beta of 2.07. IPG Photonics Corp. has a 1-year low of $73.55 and a 1-year high of $102.90. The firm has a 50-day moving average price of $86.88 and a 200-day moving average price of $85.00.
IPG Photonics Corp. (NASDAQ:IPGP) last posted its earnings results on Thursday, October 27th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.06. The company earned $266 million during the quarter, compared to analysts’ expectations of $255.27 million. IPG Photonics Corp. had a return on equity of 17.73% and a net margin of 25.83%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.18 earnings per share. On average, equities research analysts forecast that IPG Photonics Corp. will post $4.71 earnings per share for the current year.
A number of large investors have recently bought and sold shares of IPGP. BlackRock Group LTD boosted its stake in IPG Photonics Corp. by 25.7% in the first quarter. BlackRock Group LTD now owns 22,653 shares of the company’s stock valued at $2,176,000 after buying an additional 4,637 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of IPG Photonics Corp. during the first quarter worth $581,000. State Street Corp boosted its stake in shares of IPG Photonics Corp. by 1.7% in the first quarter. State Street Corp now owns 953,583 shares of the company’s stock worth $91,622,000 after buying an additional 15,696 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in shares of IPG Photonics Corp. by 45.6% in the first quarter. Pictet Asset Management Ltd. now owns 81,370 shares of the company’s stock worth $6,710,000 after buying an additional 25,497 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of IPG Photonics Corp. by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 65,234 shares of the company’s stock worth $6,268,000 after buying an additional 44,381 shares during the last quarter. 59.88% of the stock is owned by institutional investors.
IPGP has been the subject of several research reports. Zacks Investment Research cut IPG Photonics Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Canaccord Genuity set a $100.00 price objective on IPG Photonics Corp. and gave the stock a “buy” rating in a research note on Thursday, August 11th. Needham & Company LLC restated a “buy” rating and set a $96.00 price objective (down from $98.00) on shares of IPG Photonics Corp. in a research note on Monday, August 1st. Credit Agricole SA restated an “outperform” rating and set a $92.00 price objective on shares of IPG Photonics Corp. in a research note on Tuesday, September 13th. Finally, Summit Redstone restated a “buy” rating on shares of IPG Photonics Corp. in a research note on Thursday, July 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.86.
About IPG Photonics Corp.
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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