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

Principal Financial Group Inc. cut its holdings in shares of IPG Photonics Co. (NASDAQ:IPGP) by 33.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV boosted its stake in shares of IPG Photonics by 50.6% during the third quarter. KBC Group NV now owns 1,086 shares of the semiconductor company’s stock worth $81,000 after buying an additional 365 shares during the period. Assetmark Inc. raised its stake in shares of IPG Photonics by 28.3% during the third quarter. Assetmark Inc. now owns 1,336 shares of the semiconductor company’s stock worth $99,000 after purchasing an additional 295 shares during the last quarter. FMR LLC lifted its holdings in shares of IPG Photonics by 10.4% during the third quarter. FMR LLC now owns 1,620 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 153 shares during the period. Covestor Ltd grew its position in IPG Photonics by 7.7% in the 3rd quarter. Covestor Ltd now owns 1,869 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 133 shares during the last quarter. Finally, CWM LLC increased its stake in IPG Photonics by 226.4% in the 3rd quarter. CWM LLC now owns 2,435 shares of the semiconductor company’s stock valued at $181,000 after buying an additional 1,689 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Trading Down 0.1 %

Shares of IPG Photonics stock opened at $72.67 on Friday. The company has a 50-day moving average of $77.47 and a two-hundred day moving average of $76.26. The stock has a market cap of $3.14 billion, a PE ratio of -20.94 and a beta of 0.96. IPG Photonics Co. has a 12-month low of $61.86 and a 12-month high of $105.00.

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, 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 revenue was down 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, sell-side analysts forecast that IPG Photonics Co. will post 1.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IPGP has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of IPG Photonics in a research report on Wednesday, October 30th. Finally, Northcoast Research cut IPG Photonics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IPG Photonics presently has an average rating of “Hold” and an average price target of $93.50.

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.