IPG Photonics Co. (NASDAQ:IPGP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of IPG Photonics Co. (NASDAQ:IPGP) by 33.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,592 shares of the semiconductor company’s stock after selling 31,987 shares during the quarter. Principal Financial Group Inc. owned 0.15% of IPG Photonics worth $4,726,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IPGP. Bank of New York Mellon Corp lifted its stake in IPG Photonics by 26.4% during the second quarter. Bank of New York Mellon Corp now owns 303,113 shares of the semiconductor company’s stock worth $25,580,000 after purchasing an additional 63,369 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in IPG Photonics by 4.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company’s stock valued at $585,000 after acquiring an additional 278 shares during the period. Fiera Capital Corp increased its stake in IPG Photonics by 0.9% during the second quarter. Fiera Capital Corp now owns 22,541 shares of the semiconductor company’s stock worth $1,902,000 after purchasing an additional 193 shares during the period. Federated Hermes Inc. lifted its position in shares of IPG Photonics by 28.9% during the second quarter. Federated Hermes Inc. now owns 27,437 shares of the semiconductor company’s stock worth $2,315,000 after purchasing an additional 6,153 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of IPG Photonics by 11.5% in the second quarter. Envestnet Asset Management Inc. now owns 50,388 shares of the semiconductor company’s stock valued at $4,252,000 after purchasing an additional 5,190 shares during the period. 93.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Finally, Benchmark restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.50.

IPG Photonics Price Performance

Shares of NASDAQ IPGP opened at $72.67 on Friday. IPG Photonics Co. has a 1 year low of $61.86 and a 1 year high of $105.00. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -20.94 and a beta of 0.96. The business has a 50-day moving average of $77.47 and a two-hundred day moving average of $76.26.

IPG Photonics (NASDAQ:IPGP) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $233.14 million for the quarter, compared to analyst estimates of $227.89 million. IPG Photonics had a negative net margin of 14.20% and a positive return on equity of 4.32%. The firm’s revenue was down 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. As a group, equities research analysts expect that IPG Photonics Co. will post 1.51 earnings per share for the current year.

IPG Photonics Company 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.