Principal Financial Group Inc. Trims Holdings in IPG Photonics Co. (NASDAQ:IPGP)

Principal Financial Group Inc. decreased its position in IPG Photonics Co. (NASDAQ:IPGP - Free Report) by 33.5% during the 3rd quarter, according to its most recent filing with the SEC. 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. owned about 0.14% of IPG Photonics worth $4,726,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 valued at $277,207,000 after buying an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of IPG Photonics by 14.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company's stock valued at $84,054,000 after purchasing an additional 125,958 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of IPG Photonics by 1.3% during 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 during the period. Disciplined Growth Investors Inc. MN boosted its position in 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 valued at $41,432,000 after acquiring an additional 10,775 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in IPG Photonics by 58.7% during 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on IPGP shares. Stifel Nicolaus decreased their price objective on shares of IPG Photonics from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Raymond James reduced 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 reissued a "hold" rating on shares of IPG Photonics in a research note on Wednesday, October 30th. Finally, Benchmark restated a "hold" rating on shares of IPG Photonics in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $93.50.

IPG Photonics Stock Up 4.0 %

Shares of IPG Photonics stock traded up $2.98 during midday trading on Friday, hitting $77.79. The company had a trading volume of 218,242 shares, compared to its average volume of 263,979. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -22.14 and a beta of 0.98. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $111.11. The company has a fifty day simple moving average of $75.53 and a 200 day simple moving average of $78.51.

IPG Photonics (NASDAQ:IPGP - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 4.32% and a negative net margin of 14.20%. IPG Photonics's quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the company earned $1.16 earnings per share. As a group, analysts expect that IPG Photonics Co. will post 1.53 EPS for the current year.

About IPG Photonics

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.