Principal Financial Group Inc. trimmed its position in IPG Photonics Co. (NASDAQ:IPGP – Get Rating) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 126,197 shares of the semiconductor company’s stock after selling 3,105 shares during the period. Principal Financial Group Inc. owned 0.26% of IPG Photonics worth $11,947,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its stake in shares of IPG Photonics by 3.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,650 shares of the semiconductor company’s stock valued at $251,000 after acquiring an additional 100 shares during the last quarter. Inspire Investing LLC raised its position in IPG Photonics by 8.6% during the 3rd quarter. Inspire Investing LLC now owns 2,438 shares of the semiconductor company’s stock worth $206,000 after purchasing an additional 193 shares during the last quarter. Yousif Capital Management LLC raised its position in IPG Photonics by 3.8% during the 1st quarter. Yousif Capital Management LLC now owns 5,940 shares of the semiconductor company’s stock worth $652,000 after purchasing an additional 217 shares during the last quarter. Signaturefd LLC raised its position in IPG Photonics by 63.8% during the 4th quarter. Signaturefd LLC now owns 570 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 222 shares during the last quarter. Finally, ETF Managers Group LLC raised its position in IPG Photonics by 4.0% during the 3rd quarter. ETF Managers Group LLC now owns 6,242 shares of the semiconductor company’s stock worth $527,000 after purchasing an additional 240 shares during the last quarter. 63.50% of the stock is currently owned by institutional investors.
Insider Activity
In other news, major shareholder Valentin Gapontsev Trust I sold 16,500 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $122.20, for a total value of $2,016,300.00. Following the completion of the sale, the insider now directly owns 7,378,099 shares in the company, valued at approximately $901,603,697.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other IPG Photonics news, major shareholder Valentin Gapontsev Trust I sold 16,500 shares of IPG Photonics stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $122.20, for a total transaction of $2,016,300.00. Following the completion of the transaction, the insider now owns 7,378,099 shares in the company, valued at approximately $901,603,697.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeanmarie F. Desmond sold 1,180 shares of IPG Photonics stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $109.70, for a total value of $129,446.00. Following the transaction, the director now owns 5,304 shares of the company’s stock, valued at approximately $581,848.80. The disclosure for this sale can be found here. Insiders sold a total of 58,930 shares of company stock worth $6,860,044 in the last three months. Company insiders own 37.10% of the company’s stock.
IPG Photonics Price Performance
IPG Photonics (NASDAQ:IPGP – Get Rating) last issued its earnings results on Tuesday, May 2nd. The semiconductor company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.00 by $0.26. The company had revenue of $347.17 million during the quarter, compared to the consensus estimate of $330.60 million. IPG Photonics had a return on equity of 4.62% and a net margin of 7.14%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.31 EPS. Analysts expect that IPG Photonics Co. will post 5.19 EPS for the current fiscal year.
IPG Photonics declared that its board has initiated a share repurchase plan on Tuesday, May 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
Analysts Set New Price Targets
IPGP has been the subject of several analyst reports. Citigroup lowered their target price on IPG Photonics from $160.00 to $152.00 in a research report on Tuesday, May 9th. Stifel Nicolaus raised their target price on IPG Photonics from $110.00 to $145.00 in a research report on Wednesday, February 15th. Benchmark lowered their target price on IPG Photonics from $140.00 to $134.00 in a research report on Wednesday, May 3rd. Sanford C. Bernstein increased their price target on IPG Photonics from $100.00 to $124.00 and gave the stock a “market perform” rating in a report on Thursday, February 16th. Finally, StockNews.com upgraded IPG Photonics from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.00.
About IPG Photonics
IPG Photonics Corp. engages in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers, and related optical components. Its products include lasers, beam delivery, medical, telecom equipment, product finder and components such as pump diodes, chillers, and mid-IR crystals.
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