Insider Selling: IPG Photonics Corporation (NASDAQ:IPGP) Director Sells 1,360 Shares of Stock

Key Points

• Jeanmarie F. Desmond, a director at IPG Photonics, sold 1,360 shares at an average price of $76.24, decreasing their position by 12.25%.
• IPG Photonics reported earnings of $0.30 per share for its latest quarter, exceeding analyst expectations, while revenue fell 2.7% year-over-year.
• The company declared a quarterly dividend of $0.33 per share, reflecting an annualized yield of 1.8%.

IPG Photonics Corporation (NASDAQ:IPGP - Get Free Report) Director Jeanmarie F. Desmond sold 1,360 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $76.24, for a total value of $103,686.40. Following the sale, the director directly owned 9,740 shares of the company's stock, valued at $742,577.60. This represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

IPG Photonics Stock Performance

IPGP stock traded up $1.51 during midday trading on Wednesday, reaching $79.77. 27,396 shares of the company traded hands, compared to its average volume of 302,253. IPG Photonics Corporation has a 52-week low of $48.59 and a 52-week high of $88.50. The business has a 50 day moving average of $72.24 and a 200-day moving average of $65.72. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -16.28, a P/E/G ratio of 21.61 and a beta of 0.88.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.20. IPG Photonics had a positive return on equity of 2.25% and a negative net margin of 22.77%. The firm had revenue of $250.72 million for the quarter, compared to the consensus estimate of $228.20 million. During the same period in the prior year, the business posted $0.45 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts anticipate that IPG Photonics Corporation will post 1.54 earnings per share for the current year.

IPG Photonics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.7%.

Analysts Set New Price Targets

Several research firms have issued reports on IPGP. Wall Street Zen raised IPG Photonics from a "sell" rating to a "hold" rating in a report on Saturday. Raymond James Financial dropped their price objective on IPG Photonics from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research note on Wednesday, May 7th. Sanford C. Bernstein raised IPG Photonics from a "market perform" rating to an "outperform" rating and set a $97.00 price objective for the company in a research note on Thursday, August 7th. Finally, Stifel Nicolaus set a $72.00 price objective on IPG Photonics in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $75.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IPGP. True Wealth Design LLC increased its holdings in IPG Photonics by 1,621.7% during the 2nd quarter. True Wealth Design LLC now owns 396 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 373 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in IPG Photonics by 207.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 430 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 290 shares in the last quarter. Larson Financial Group LLC bought a new stake in IPG Photonics during the 1st quarter valued at $39,000. UMB Bank n.a. boosted its position in IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company's stock valued at $40,000 after acquiring an additional 329 shares in the last quarter. Finally, Signaturefd LLC boosted its position in IPG Photonics by 76.9% during the 2nd quarter. Signaturefd LLC now owns 764 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 332 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

About IPG Photonics

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.