IPG Photonics (NASDAQ:IPGP) Major Shareholder Valentin Gapontsev Trust I Sells 6,020 Shares of Company Stock

Key Points

• Valentin Gapontsev Trust I sold 6,020 IPG Photonics shares at an average $75.18, worth about $452,584, under a pre-arranged Rule 10b5-1 plan. The trust retained approximately 6.64 million shares.
• IPG Photonics shares fell 5.8% to $70.11. The stock traded well below its 50-day and 200-day moving averages.
• Quarterly results topped estimates: EPS was $0.61 versus $0.49 expected, and revenue of $287.5 million rose 14.6% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $139.60.

IPG Photonics Corporation (NASDAQ:IPGP - Get Free Report) major shareholder Valentin Gapontsev Trust I sold 6,020 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $75.18, for a total transaction of $452,583.60. Following the transaction, the insider owned 6,636,866 shares of the company's stock, valued at approximately $498,959,585.88. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own at least 10% 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, November 3rd, Valentin Gapontsev Trust I sold 14,632 shares of IPG Photonics stock. The stock was sold at an average price of $75.18, for a total transaction of $1,100,033.76.
• On Wednesday, September 2nd, Valentin Gapontsev Trust I sold 9,306 shares of IPG Photonics stock. The stock was sold at an average price of $75.95, for a total transaction of $706,790.70.
• On Tuesday, September 1st, Valentin Gapontsev Trust I sold 18,091 shares of IPG Photonics stock. The shares were sold at an average price of $75.14, for a total transaction of $1,359,357.74.

IPG Photonics Stock Down 5.8%

NASDAQ:IPGP traded down $4.31 during trading hours on Wednesday, reaching $70.11. 468,069 shares of the company's stock were exchanged, compared to its average volume of 497,905. The company has a market capitalization of $2.98 billion, a P/E ratio of 107.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. IPG Photonics Corporation has a 12 month low of $67.70 and a 12 month high of $155.82. The business's 50-day simple moving average is $76.45 and its two-hundred day simple moving average is $100.76.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The semiconductor company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. The firm had revenue of $287.50 million for the quarter, compared to analyst estimates of $283.31 million. IPG Photonics had a net margin of 2.58% and a return on equity of 3.39%. The firm's quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that IPG Photonics Corporation will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup cut their target price on IPG Photonics from $150.00 to $137.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings reissued a "sell (d+)" rating on shares of IPG Photonics in a research note on Monday, September 21st. Finally, Needham & Company LLC cut their price objective on IPG Photonics from $120.00 to $105.00 and set a "buy" rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.60.

Hedge Funds Weigh In On IPG Photonics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPGP. Retirement Systems of Alabama raised its stake in IPG Photonics by 3.3% during the 3rd quarter. Retirement Systems of Alabama now owns 27,201 shares of the semiconductor company's stock valued at $2,129,000 after purchasing an additional 863 shares during the period. Fulcrum Asset Management LLP purchased a new stake in shares of IPG Photonics in the third quarter valued at $356,000. Brighton Jones LLC boosted its position in shares of IPG Photonics by 42.5% in the third quarter. Brighton Jones LLC now owns 3,624 shares of the semiconductor company's stock worth $284,000 after buying an additional 1,081 shares during the period. Calamos Wealth Management LLC grew its holdings in shares of IPG Photonics by 7.2% during the third quarter. Calamos Wealth Management LLC now owns 5,795 shares of the semiconductor company's stock valued at $454,000 after buying an additional 388 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of IPG Photonics during the third quarter valued at $296,000. Institutional investors and hedge funds own 93.79% of the company's stock.

Key Stories Impacting IPG Photonics

Here are the key news stories impacting IPG Photonics this week:

• Positive Sentiment: Q3 revenue rose about 15% year over year to $287.5 million, ahead of estimates, while adjusted earnings of $0.61 per share beat the $0.49 consensus and increased from $0.35 a year earlier. Semiconductor laser revenue more than doubled, pointing to strength in that product area. IPG Photonics: 3 Key Takeaways for Long-Term Investors Q3 Earnings and Revenues Top Estimates
• Neutral Sentiment: Needham lowered its price target from $120 to $105 but maintained a Buy rating. The revised target still implies substantial upside from the cited share price, although the cut tempers the bullish signal. Needham price-target update

About IPG Photonics

IPG Photonics Corporation NASDAQ: IPGP develops and manufactures high-performance fiber lasers, laser systems, optical amplifiers and related components. Its product portfolio includes single-mode and multi-mode fiber lasers, pulsed lasers, diode lasers, beam-delivery systems and other specialized photonics products.

The company's technologies are used primarily for industrial materials processing applications, including cutting, welding, marking, drilling, cladding and additive manufacturing.

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