IPG Photonics (NASDAQ:IPGP) Stock: Insider Valentin Gapontsev Trust I Sells 14,632 Shares

Key Points

• Major shareholder Valentin Gapontsev Trust I sold 14,632 IPG Photonics shares for about $1.10 million at an average price of $75.18 under a pre-arranged Rule 10b5-1 plan. The trust retained 6.62 million shares after the transaction.
• IPG Photonics reported quarterly revenue of $287.5 million, up 14.6% year over year, and EPS of $0.61, beating analyst estimates of $283.31 million in revenue and $0.49 EPS.
• Shares fell $4.31 to $70.11 in Wednesday trading. Needham lowered its price target from $120 to $105 while keeping a Buy rating; analysts’ average target was $139.60.

IPG Photonics Corporation (NASDAQ:IPGP - Get Free Report) major shareholder Valentin Gapontsev Trust I sold 14,632 shares of the firm's stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $75.18, for a total value of $1,100,033.76. Following the completion of the sale, the insider directly owned 6,622,234 shares of the company's stock, valued at $497,859,552.12. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own at least 10% of a company's shares 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 2nd, Valentin Gapontsev Trust I sold 6,020 shares of IPG Photonics stock. The stock was sold at an average price of $75.18, for a total value of $452,583.60.
• 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 value 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 value of $1,359,357.74.

IPG Photonics Price Performance

Shares of NASDAQ IPGP traded down $4.31 during trading on Wednesday, hitting $70.11. 468,069 shares of the company were exchanged, compared to its average volume of 497,905. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 107.86, a PEG ratio of 1.75 and a beta of 1.00. IPG Photonics Corporation has a 1 year low of $67.70 and a 1 year high of $155.82. The firm's fifty day moving average price is $76.45 and its 200 day moving average price 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, beating analysts' consensus estimates of $0.49 by $0.12. The company had revenue of $287.50 million during the quarter, compared to the consensus estimate of $283.31 million. IPG Photonics had a net margin of 2.58% and a return on equity of 3.39%. The company's revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. On average, research analysts forecast that IPG Photonics Corporation will post 1.86 earnings per share for the current year.

Hedge Funds Weigh In On IPG Photonics

A number of institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System lifted its position in IPG Photonics by 1.7% during the first quarter. State of Michigan Retirement System now owns 6,100 shares of the semiconductor company's stock worth $699,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in IPG Photonics by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,139 shares of the semiconductor company's stock valued at $589,000 after buying an additional 100 shares during the period. EverSource Wealth Advisors LLC grew its holdings in IPG Photonics by 17.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 915 shares of the semiconductor company's stock valued at $105,000 after buying an additional 133 shares during the period. Versant Capital Management Inc grew its holdings in IPG Photonics by 42.2% in the 3rd quarter. Versant Capital Management Inc now owns 495 shares of the semiconductor company's stock valued at $39,000 after buying an additional 147 shares during the period. Finally, Byrne Asset Management LLC increased its stake in shares of IPG Photonics by 13.8% during the 3rd quarter. Byrne Asset Management LLC now owns 1,348 shares of the semiconductor company's stock valued at $113,000 after acquiring an additional 163 shares during the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about 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

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.