Principal Financial Group Inc. Has $4.73 Million Stake in IPG Photonics Co. (NASDAQ:IPGP)

Principal Financial Group Inc. decreased its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 33.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,592 shares of the semiconductor company’s stock after selling 31,987 shares during the period. Principal Financial Group Inc.’s holdings in IPG Photonics were worth $4,726,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IPGP. Vanguard Group Inc. boosted its stake in shares of IPG Photonics by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,056,642 shares of the semiconductor company’s stock worth $277,207,000 after buying an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in IPG Photonics by 14.5% during the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock valued at $84,054,000 after acquiring an additional 125,958 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of IPG Photonics by 1.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 916,877 shares of the semiconductor company’s stock worth $77,375,000 after buying an additional 11,548 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of IPG Photonics by 2.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 490,959 shares of the semiconductor company’s stock worth $41,432,000 after purchasing an additional 10,775 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in IPG Photonics by 58.7% in the second quarter. Pacer Advisors Inc. now owns 489,181 shares of the semiconductor company’s stock worth $41,282,000 after acquiring an additional 180,951 shares in the last quarter. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Stock Up 1.8 %

IPGP opened at $74.81 on Friday. IPG Photonics Co. has a 52 week low of $61.86 and a 52 week high of $111.11. The firm has a 50-day simple moving average of $75.33 and a two-hundred day simple moving average of $78.54. The company has a market capitalization of $3.24 billion, a PE ratio of -21.60 and a beta of 0.98.

IPG Photonics (NASDAQ:IPGP) last posted its earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million for the quarter, compared to the consensus estimate of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The business’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. As a group, sell-side analysts expect that IPG Photonics Co. will post 1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

IPGP has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Stifel Nicolaus dropped their target price on shares of IPG Photonics from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Benchmark reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Raymond James lowered their price objective on IPG Photonics from $127.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IPG Photonics presently has an average rating of “Hold” and an average price target of $93.50.

IPG Photonics Profile

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.