IPG Photonics Co. (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 8,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $141.06, for a total transaction of $1,128,480.00. Following the sale, the insider now directly owns 7,533,928 shares in the company, valued at $1,062,735,883.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Valentin Gapontsev Trust I also recently made the following trade(s):
- On Monday, November 25th, Valentin Gapontsev Trust I sold 10,000 shares of IPG Photonics stock. The shares were sold at an average price of $142.01, for a total value of $1,420,100.00.
Shares of IPGP traded up $3.68 during mid-day trading on Wednesday, hitting $143.25. 333,889 shares of the company were exchanged, compared to its average volume of 468,057. IPG Photonics Co. has a 1-year low of $104.64 and a 1-year high of $182.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.05 and a current ratio of 9.08. The company has a 50 day moving average of $139.74 and a 200-day moving average of $134.89. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 11.94 and a beta of 2.18.
Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of IPG Photonics by 1.3% during the second quarter. Vanguard Group Inc. now owns 3,762,010 shares of the semiconductor company’s stock worth $580,290,000 after purchasing an additional 48,004 shares in the last quarter. State Street Corp lifted its holdings in IPG Photonics by 1.0% in the 3rd quarter. State Street Corp now owns 1,422,337 shares of the semiconductor company’s stock valued at $192,869,000 after purchasing an additional 13,970 shares in the last quarter. Invesco Ltd. lifted its holdings in IPG Photonics by 108.8% in the 2nd quarter. Invesco Ltd. now owns 1,344,571 shares of the semiconductor company’s stock valued at $207,400,000 after purchasing an additional 700,721 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in IPG Photonics by 4.6% in the 2nd quarter. Pictet Asset Management Ltd. now owns 971,975 shares of the semiconductor company’s stock valued at $149,927,000 after purchasing an additional 42,970 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in IPG Photonics by 490.2% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 538,268 shares of the semiconductor company’s stock worth $83,028,000 after purchasing an additional 447,068 shares during the last quarter. 64.43% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on IPGP. Needham & Company LLC reaffirmed a “hold” rating on shares of IPG Photonics in a report on Tuesday, October 29th. ValuEngine raised IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. DA Davidson dropped their price objective on IPG Photonics to $150.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Zacks Investment Research raised IPG Photonics from a “sell” rating to a “hold” rating and set a $115.00 target price for the company in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. IPG Photonics currently has a consensus rating of “Buy” and a consensus price target of $160.56.
About IPG Photonics
IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. The company's laser products include low, medium, and high power lasers; 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; laser diode chips and packaged laser diodes; and high power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.
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