IPG Photonics (NASDAQ:IPGP) major shareholder Valentin Gapontsev Trust I sold 10,000 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $253.88, for a total value of $2,538,800.00. Following the transaction, the insider now owns 7,567,999 shares of the company’s stock, valued at $1,921,363,586.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Valentin Gapontsev Trust I also recently made the following trade(s):
- On Monday, May 7th, Valentin Gapontsev Trust I sold 20,000 shares of IPG Photonics stock. The stock was sold at an average price of $233.73, for a total value of $4,674,600.00.
IPG Photonics opened at $246.74 on Friday, MarketBeat Ratings reports. IPG Photonics has a 1 year low of $249.90 and a 1 year high of $252.71. The firm has a market capitalization of $13.52 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 2.47 and a beta of 1.85. The company has a quick ratio of 7.71, a current ratio of 9.54 and a debt-to-equity ratio of 0.02.
Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of IPG Photonics by 29.9% in the fourth quarter. Raymond James & Associates now owns 25,175 shares of the semiconductor company’s stock worth $5,391,000 after purchasing an additional 5,796 shares in the last quarter. Bank of Montreal Can grew its stake in shares of IPG Photonics by 243.5% in the fourth quarter. Bank of Montreal Can now owns 37,529 shares of the semiconductor company’s stock worth $8,036,000 after purchasing an additional 26,605 shares in the last quarter. Deutsche Bank AG grew its stake in shares of IPG Photonics by 157.7% in the fourth quarter. Deutsche Bank AG now owns 200,599 shares of the semiconductor company’s stock worth $42,952,000 after purchasing an additional 122,759 shares in the last quarter. BlackRock Inc. grew its stake in shares of IPG Photonics by 20.1% in the fourth quarter. BlackRock Inc. now owns 3,874,614 shares of the semiconductor company’s stock worth $829,672,000 after purchasing an additional 648,145 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new position in IPG Photonics during the fourth quarter valued at about $3,967,000. 56.06% of the stock is owned by institutional investors.
IPGP has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on IPG Photonics in a research note on Wednesday, April 18th. They set an “outperform” rating and a $294.00 price objective for the company. ValuEngine upgraded IPG Photonics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 26th. Canaccord Genuity restated a “hold” rating and set a $235.00 price objective on shares of IPG Photonics in a research note on Tuesday, May 1st. Finally, Benchmark restated a “buy” rating and set a $255.00 price objective (up from $230.00) on shares of IPG Photonics in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $238.50.
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.
Receive News & Ratings for IPG Photonics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IPG Photonics and related companies with MarketBeat.com's FREE daily email newsletter.