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

Principal Financial Group Inc. lowered its stake in shares of IPG Photonics Corporation (NASDAQ:IPGP) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,818 shares of the semiconductor company’s stock after selling 761 shares during the quarter. Principal Financial Group Inc. owned 0.14% of IPG Photonics worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IPGP. UMB Bank n.a. raised its stake in shares of IPG Photonics by 107.5% during the 1st quarter. UMB Bank n.a. now owns 635 shares of the semiconductor company’s stock worth $40,000 after buying an additional 329 shares in the last quarter. Headlands Technologies LLC acquired a new stake in IPG Photonics in the fourth quarter valued at $87,000. Versant Capital Management Inc lifted its position in shares of IPG Photonics by 90.7% in the 1st quarter. Versant Capital Management Inc now owns 1,819 shares of the semiconductor company’s stock worth $115,000 after buying an additional 865 shares during the last quarter. Sterling Capital Management LLC grew its position in IPG Photonics by 52.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,656 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 572 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in IPG Photonics during the 4th quarter valued at $134,000. 93.79% of the stock is owned by institutional investors and hedge funds.

IPG Photonics Trading Up 1.1%

Shares of NASDAQ:IPGP opened at $74.44 on Friday. The stock has a market cap of $3.17 billion, a PE ratio of -16.15, a price-to-earnings-growth ratio of 11.86 and a beta of 0.90. IPG Photonics Corporation has a 1-year low of $48.59 and a 1-year high of $91.41. The stock’s fifty day simple moving average is $68.51 and its two-hundred day simple moving average is $65.54.

IPG Photonics (NASDAQ:IPGP) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The business had revenue of $227.79 million during the quarter, compared to analyst estimates of $227.00 million. IPG Photonics had a positive return on equity of 2.56% and a negative net margin of 21.18%. IPG Photonics’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, sell-side analysts forecast that IPG Photonics Corporation will post 1.54 earnings per share for the current fiscal year.

IPG Photonics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.77%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IPGP shares. Wall Street Zen raised shares of IPG Photonics from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Raymond James Financial decreased their price objective on shares of IPG Photonics from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $72.00 price target on shares of IPG Photonics in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, IPG Photonics currently has an average rating of “Hold” and an average target price of $69.50.

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.