Principal Financial Group Inc. Sells 31,987 Shares of IPG Photonics Co. (NASDAQ:IPGP)

Principal Financial Group Inc. reduced its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 33.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of 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 during the period. Commonwealth Equity Services LLC increased its stake in shares of IPG Photonics by 4.2% in the second quarter. Commonwealth Equity Services LLC now owns 6,937 shares of the semiconductor company's stock valued at $585,000 after buying an additional 278 shares during the period. Fiera Capital Corp raised its position in shares of 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 acquiring an additional 193 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of IPG Photonics by 28.9% in the second quarter. Federated Hermes Inc. now owns 27,437 shares of the semiconductor company's stock worth $2,315,000 after acquiring an additional 6,153 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in IPG Photonics by 11.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 50,388 shares of the semiconductor company's stock worth $4,252,000 after purchasing an additional 5,190 shares during the last quarter. Institutional investors own 93.79% of the company's stock.

IPG Photonics Stock Up 0.1 %

NASDAQ:IPGP traded up $0.09 during trading hours on Friday, reaching $72.76. The company had a trading volume of 312,470 shares, compared to its average volume of 232,035. The business's 50-day simple moving average is $77.39 and its two-hundred day simple moving average is $76.17. IPG Photonics Co. has a twelve month low of $61.86 and a twelve month high of $104.19. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -20.97 and a beta of 0.96.

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

Analyst Ratings Changes

IPGP has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Benchmark reaffirmed a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Northcoast Research lowered IPG Photonics from a "buy" rating to a "neutral" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.