Shares of IPG Photonics Co. (NASDAQ:IPGP) dropped 5.1% during trading on Monday following insider selling activity. The stock traded as low as $231.49 and last traded at $234.24. Approximately 561,126 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 510,419 shares. The stock had previously closed at $246.75.
Specifically, SVP Trevor Ness sold 10,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $208.17, for a total value of $2,081,700.00. Following the completion of the sale, the senior vice president now directly owns 22,906 shares of the company’s stock, valued at $4,768,342.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Pv Mammen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $252.46, for a total value of $1,262,300.00. Following the completion of the sale, the chief financial officer now directly owns 36,100 shares of the company’s stock, valued at $9,113,806. The disclosure for this sale can be found here. Insiders sold 49,500 shares of company stock valued at $11,979,620 over the last ninety days. 33.80% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on IPGP shares. Northcoast Research reissued a “buy” rating and issued a $290.00 price objective on shares of IPG Photonics in a report on Wednesday, January 31st. Needham & Company LLC increased their price objective on IPG Photonics from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. DA Davidson reissued a “buy” rating and issued a $220.00 price objective on shares of IPG Photonics in a report on Tuesday, October 10th. Benchmark reaffirmed a “buy” rating and set a $230.00 price target on shares of IPG Photonics in a report on Wednesday, November 1st. Finally, BidaskClub downgraded IPG Photonics from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $196.30.
The company has a debt-to-equity ratio of 0.02, a current ratio of 9.02 and a quick ratio of 7.46. The stock has a market cap of $12,610.00, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.70 and a beta of 1.88.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of IPG Photonics during the fourth quarter worth $101,000. Bollard Group LLC lifted its holdings in shares of IPG Photonics by 145.5% during the fourth quarter. Bollard Group LLC now owns 491 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 291 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of IPG Photonics during the fourth quarter worth $128,000. C M Bidwell & Associates Ltd. lifted its holdings in shares of IPG Photonics by 114.3% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 600 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 320 shares during the period. Finally, Advantage Investment Management LLC raised its position in IPG Photonics by 366.5% in the third quarter. Advantage Investment Management LLC now owns 933 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 733 shares in the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.
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IPG Photonics Company Profile
IPG Photonics Corporation is a developer and manufacturer of a line of fiber lasers, fiber amplifiers, diode lasers, laser systems and optical accessories that are used for various applications. The Company offers a line of lasers and amplifiers, which are used in materials processing, communications and medical applications.
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