IPG Photonics Co. (NASDAQ:IPGP) Stake Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in IPG Photonics Co. (NASDAQ:IPGP) by 33.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,592 shares of the semiconductor company’s stock after selling 31,987 shares during the period. Principal Financial Group Inc. owned 0.14% of IPG Photonics worth $4,726,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in IPGP. M&G PLC lifted its holdings in IPG Photonics by 1.3% in the 3rd quarter. M&G PLC now owns 167,485 shares of the semiconductor company’s stock valued at $12,394,000 after acquiring an additional 2,113 shares during the last quarter. Cambiar Investors LLC grew its holdings in shares of IPG Photonics by 5.7% during the 3rd quarter. Cambiar Investors LLC now owns 108,154 shares of the semiconductor company’s stock valued at $8,038,000 after acquiring an additional 5,813 shares in the last quarter. US Bancorp DE increased its holdings in IPG Photonics by 101.2% in the third quarter. US Bancorp DE now owns 7,202 shares of the semiconductor company’s stock worth $535,000 after buying an additional 3,623 shares during the last quarter. Roubaix Capital LLC acquired a new stake in shares of IPG Photonics in the 3rd quarter valued at $2,620,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of IPG Photonics in the third quarter worth about $303,000. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Trading Up 1.8 %

NASDAQ IPGP opened at $74.81 on Friday. IPG Photonics Co. has a 1 year low of $61.86 and a 1 year high of $111.11. The firm has a market capitalization of $3.24 billion, a P/E ratio of -21.60 and a beta of 0.98. The firm’s fifty day moving average price is $75.33 and its two-hundred day moving average price is $78.54.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. 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 note on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their price target on IPG Photonics from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.