IPG Photonics (IPGP)
Market Price (8/14/2026): $83.31 | Market Cap: $3.5 BilSector: Information Technology | Industry: Electronic Manufacturing Services
IPG Photonics (IPGP)
Market Price (8/14/2026): $83.31Market Cap: $3.5 BilSector: Information TechnologyIndustry: Electronic Manufacturing Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more. | Weak multi-year price returns2Y Excs Rtn is -22%, 3Y Excs Rtn is -97% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 84x, P/EPrice/Earnings or Price/(Net Income) is 129x Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.9% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% Key risksIPGP key risks include [1] weak demand in its core industrial markets, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -24% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, and Electric Vehicles & Autonomous Driving. Themes include Factory Automation, Industrial Robotics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -22%, 3Y Excs Rtn is -97% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 84x, P/EPrice/Earnings or Price/(Net Income) is 129x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.9% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% |
| Key risksIPGP key risks include [1] weak demand in its core industrial markets, Show more. |
Qualitative Assessment
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IPG Photonics (IPGP) stock has lost about 30% since 4/30/2026 because of the following key factors:
1. Fiscal Q1 2026 Earnings Miss and Weak Fiscal Q2 Guidance.
On May 5, 2026, IPG Photonics reported its fiscal first quarter 2026 results, with adjusted earnings per share (EPS) of $0.29, falling short of the analyst consensus estimate of $0.31. Additionally, the company provided a weaker-than-anticipated outlook for fiscal Q2 2026, projecting adjusted EPS at a midpoint of $0.40 against an analyst estimate of $0.43. This news triggered a significant 24.4% drop in the stock price on May 5, 2026.
2. Significant Non-Recurring Charges in Fiscal Q2 2026.
Despite adjusted earnings beating expectations in fiscal Q2 2026 (adjusted EPS of $0.58 vs. $0.37 consensus), the company recorded substantial GAAP charges. These included a $17.6 million impairment charge related to the planned sale of its Belarus operations and a $13.3 million patent litigation settlement with Trumpf. These non-recurring items led to a 21% year-over-year decrease in GAAP net income and a 25% drop in GAAP diluted EPS for the fiscal second quarter ended June 30, 2026, likely dampening overall investor sentiment.
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IPG Photonics (IPGP) stock has lost about 30% since 4/30/2026 because of the following key factors:
1. Fiscal Q1 2026 Earnings Miss and Weak Fiscal Q2 Guidance.
On May 5, 2026, IPG Photonics reported its fiscal first quarter 2026 results, with adjusted earnings per share (EPS) of $0.29, falling short of the analyst consensus estimate of $0.31. Additionally, the company provided a weaker-than-anticipated outlook for fiscal Q2 2026, projecting adjusted EPS at a midpoint of $0.40 against an analyst estimate of $0.43. This news triggered a significant 24.4% drop in the stock price on May 5, 2026.
2. Significant Non-Recurring Charges in Fiscal Q2 2026.
Despite adjusted earnings beating expectations in fiscal Q2 2026 (adjusted EPS of $0.58 vs. $0.37 consensus), the company recorded substantial GAAP charges. These included a $17.6 million impairment charge related to the planned sale of its Belarus operations and a $13.3 million patent litigation settlement with Trumpf. These non-recurring items led to a 21% year-over-year decrease in GAAP net income and a 25% drop in GAAP diluted EPS for the fiscal second quarter ended June 30, 2026, likely dampening overall investor sentiment.
3. Broader Semiconductor Sector Weakness and Macroeconomic Headwinds.
The stock movement was influenced by a broader downturn in the semiconductor industry and general macroeconomic concerns. This included "risk-off sentiment" that affected tech and industrial technology companies, driven by factors such as concerns over AI infrastructure spending, rising oil prices, and escalating geopolitical tensions that led to new U.S. tariffs on key chip supply chain partners. The Philadelphia Semiconductor Index, a benchmark for the sector, experienced a decline of over 20% from its peak during this period.
4. Substantial Insider Selling.
A significant amount of insider selling occurred, notably from Fibre Devices Ltd IP, a major shareholder. On June 29, 2026, Fibre Devices Ltd IP sold 65,700 shares for approximately $6.81 million at an average price of $103.64. Overall, insiders collectively sold $16.8 million in shares over the three months prior to August 7, 2026, with no corresponding buying activity, signaling a potential lack of confidence in the company's near-term prospects.
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Stock Movement Drivers
Fundamental Drivers
The -29.4% change in IPGP stock from 4/30/2026 to 8/13/2026 was primarily driven by a -19.7% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 8132026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.92 | 83.94 | -29.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,004 | 1,069 | 6.5% |
| Net Income Margin (%) | 3.1% | 2.6% | -16.8% |
| P/E Multiple | 161.0 | 129.4 | -19.7% |
| Shares Outstanding (Mil) | 42 | 42 | -0.9% |
| Cumulative Contribution | -29.4% |
Market Drivers
4/30/2026 to 8/13/2026| Return | Correlation | |
|---|---|---|
| IPGP | -29.4% | |
| Market (SPY) | 8.2% | 47.8% |
| Sector (XLK) | 19.6% | 57.1% |
Fundamental Drivers
The -9.2% change in IPGP stock from 1/31/2026 to 8/13/2026 was primarily driven by a -14.9% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8132026 | Change |
|---|---|---|---|
| Stock Price ($) | 92.41 | 83.94 | -9.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 964 | 1,069 | 11.0% |
| Net Income Margin (%) | 2.7% | 2.6% | -3.1% |
| P/E Multiple | 152.1 | 129.4 | -14.9% |
| Shares Outstanding (Mil) | 42 | 42 | -0.6% |
| Cumulative Contribution | -9.2% |
Market Drivers
1/31/2026 to 8/13/2026| Return | Correlation | |
|---|---|---|
| IPGP | -9.2% | |
| Market (SPY) | 12.7% | 31.9% |
| Sector (XLK) | 32.8% | 38.9% |
Fundamental Drivers
The 12.1% change in IPGP stock from 7/31/2025 to 8/13/2026 was primarily driven by a 12.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8132026 | Change |
|---|---|---|---|
| Stock Price ($) | 74.89 | 83.94 | 12.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 953 | 1,069 | 12.2% |
| P/S Multiple | 3.3 | 3.3 | -0.4% |
| Shares Outstanding (Mil) | 43 | 42 | 0.3% |
| Cumulative Contribution | 12.1% |
Market Drivers
7/31/2025 to 8/13/2026| Return | Correlation | |
|---|---|---|
| IPGP | 12.1% | |
| Market (SPY) | 24.1% | 37.2% |
| Sector (XLK) | 45.8% | 42.0% |
Fundamental Drivers
The -36.1% change in IPGP stock from 7/31/2023 to 8/13/2026 was primarily driven by a -63.9% change in the company's Net Income Margin (%).| (LTM values as of) | 7312023 | 8132026 | Change |
|---|---|---|---|
| Stock Price ($) | 131.45 | 83.94 | -36.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,407 | 1,069 | -24.0% |
| Net Income Margin (%) | 7.1% | 2.6% | -63.9% |
| P/E Multiple | 62.2 | 129.4 | 108.0% |
| Shares Outstanding (Mil) | 48 | 42 | 11.9% |
| Cumulative Contribution | -36.1% |
Market Drivers
7/31/2023 to 8/13/2026| Return | Correlation | |
|---|---|---|
| IPGP | -36.1% | |
| Market (SPY) | 75.9% | 47.6% |
| Sector (XLK) | 117.9% | 48.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IPGP Return | -23% | -45% | 15% | -33% | -2% | 22% | -61% |
| Peers Return | 8% | -46% | 21% | 30% | 145% | 84% | 310% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| IPGP Win Rate | 58% | 42% | 50% | 33% | 58% | 62% | |
| Peers Win Rate | 52% | 35% | 48% | 53% | 62% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IPGP Max Drawdown | -41% | -52% | -40% | -43% | -36% | -48% | |
| Peers Max Drawdown | -35% | -56% | -43% | -29% | -47% | -40% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COHR, LITE, MKSI, LASR, NOVT. See IPGP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/13/2026 (YTD)
How Low Can It Go
| Event | IPGP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -23.7% | -7.8% |
| % Gain to Breakeven | 31.0% | 8.5% |
| Time to Breakeven | 420 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -34.6% | -9.5% |
| % Gain to Breakeven | 52.9% | 10.5% |
| Time to Breakeven | 836 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.6% | -33.7% |
| % Gain to Breakeven | 40.1% | 50.9% |
| Time to Breakeven | 32 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.9% | -19.2% |
| % Gain to Breakeven | 49.0% | 23.8% |
| Time to Breakeven | 63 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.2% | 13.9% |
| Time to Breakeven | 64 days | 62 days |
In The Past
IPG Photonics's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
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| Event | IPGP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.5% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -23.7% | -7.8% |
| % Gain to Breakeven | 31.0% | 8.5% |
| Time to Breakeven | 420 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -34.6% | -9.5% |
| % Gain to Breakeven | 52.9% | 10.5% |
| Time to Breakeven | 836 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -28.6% | -33.7% |
| % Gain to Breakeven | 40.1% | 50.9% |
| Time to Breakeven | 32 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.9% | -19.2% |
| % Gain to Breakeven | 49.0% | 23.8% |
| Time to Breakeven | 63 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.2% | 13.9% |
| Time to Breakeven | 64 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -38.1% | -17.9% |
| % Gain to Breakeven | 61.5% | 21.8% |
| Time to Breakeven | 455 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.9% | -15.4% |
| % Gain to Breakeven | 28.0% | 18.2% |
| Time to Breakeven | 28 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -66.9% | -53.4% |
| % Gain to Breakeven | 202.1% | 114.4% |
| Time to Breakeven | 514 days | 1085 days |
In The Past
IPG Photonics's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About IPG Photonics (IPGP)
IPG Photonics Corporation is a leading global developer and manufacturer of high-performance fiber lasers, fiber amplifiers, and diode lasers. The company specializes in creating advanced laser technologies that serve as fundamental tools across various industries, enabling precision and efficiency in numerous applications.
The company's extensive product portfolio includes a wide array of laser types, such as hybrid fiber-solid state lasers with green and ultraviolet wavelengths, high-energy pulsed lasers, and specialized single-polarization and single-frequency lasers. Beyond core laser units, IPG Photonics also offers essential optical fiber delivery cables, beam switches, and a variety of fiber amplifiers, including erbium-doped and Raman amplifiers. Furthermore, they provide integrated laser systems for specific tasks like 2D flat sheet cutting and welding, alongside optical transceiver and transponder modules for networking applications.
IPG Photonics primarily serves the materials processing market, where its lasers are crucial for applications such as cutting, welding, drilling, and marking. In addition to materials processing, their advanced laser and amplifier solutions are deployed in communications, medical, and other advanced technological applications. The company markets its products worldwide to a diverse customer base, including original equipment manufacturers (OEMs), system integrators, and direct end users.
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Analogies:
- Intel for high-power lasers
- Qualcomm for industrial photonics
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- Fiber Lasers: Develops and sells various high-performance fiber lasers, including hybrid, pulsed, multi-wavelength, tunable, single-polarization, and single-frequency types, primarily for materials processing.
- Fiber Amplifiers: Manufactures fiber amplifiers, such as erbium-doped, Raman, ytterbium, and thulium specialty amplifiers, used in communications and other advanced applications.
- Diode Lasers & Systems: Provides diode lasers, including fiber pigtailed packaged diodes and fiber-coupled direct diode laser systems.
- Integrated Laser Systems: Offers integrated laser systems and tools like 2D flat sheet cutters, multi-axis systems, welding seam steppers/pickers, and high-precision laser systems.
- Laser Components & Accessories: Supplies optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories that complement their laser products.
- Optical Transceiver & Transponder Modules: Manufactures optical transceiver and transponder modules for interconnecting electronic equipment in telecommunications, cable, and data center networks.
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Major Customers of IPG Photonics (IPGP)
Based on the provided company description, IPG Photonics primarily sells its high-performance fiber lasers, fiber amplifiers, and diode lasers to other businesses rather than individuals. While specific customer company names are not listed in the background information, the company markets its products to the following major categories of business customers:
- Original Equipment Manufacturers (OEMs): Companies that integrate IPG Photonics' laser products and components into their own finished goods or machinery.
- System Integrators: Businesses that combine IPG Photonics' products with other hardware and software to create complete, specialized laser systems or solutions for various industrial and advanced applications.
- End Users: Companies that directly utilize IPG Photonics' laser technology in their own operations across diverse sectors, including materials processing (e.g., cutting, welding, marking), communications (e.g., broadband networks, data center networking), and medical and advanced applications.
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Mark M. Gitin, Ph.D. Chief Executive Officer and Director
Dr. Gitin became the Chief Executive Officer of IPG and a member of IPG's Board of Directors on June 5, 2024. Prior to IPG, he served as Executive Vice President and General Manager, Photonics Solutions Division of MKS Instruments, Inc. Dr. Gitin joined MKS in September 2017 as Vice President and General Manager of the Photonics Business Unit, later taking responsibility for the Instruments and Motion Business Unit. From March 1995 to September 2017, he held various management positions at Coherent, Inc., including Vice President of Strategic Marketing, Vice President of Business Development, and Vice President and General Manager of the Diodes, Fibers and Systems Business Unit.
Timothy P.V. Mammen Chief Financial Officer and Senior Vice President
Mr. Mammen has served as IPG's Chief Financial Officer since July 2000 and a Vice President since November 2000, being promoted to Senior Vice President in February 2013. Between May 1999 and July 2000, he served as the Group Finance Director and General Manager of the United Kingdom operations for IPFD, an early version of IPG. From 1995 to 1999, Mr. Mammen was Finance Director and General Manager of United Partners Plc, a commodity trading firm. He previously worked in the finance department of E.I. du Pont de Nemours and Company.
Igor Samartsev, Ph.D. Senior Vice President, Chief Scientist
Dr. Samartsev has served as IPG's Senior Vice President, Chief Scientist since February 2022, and as Chief Technology Officer since 2011. He was a member of IPG's Board from February 2006 to January 2021. From 2005 to 2018, he also served as the Deputy General Manager of IPG's Russian subsidiary, NTO IRE-Polus. Dr. Samartsev co-founded IPG in 1990 with Valentin P. Gapontsev.
Eugene Scherbakov, Ph.D. Director
Dr. Scherbakov served as the Chief Executive Officer of IPG Photonics from May 2021 to June 2024. He has been a director since September 2000. He previously served as Chief Operating Officer from February 2017, Managing Director of IPG Laser GmbH (IPG's German subsidiary) since August 2000, and Senior Vice President-Europe since February 2013. Dr. Scherbakov controls approximately 33% of the common stock as managing director of IP Fibre Devices, an early version of the company, giving him significant influence in the publicly traded company.
Dr. Alexander (Alex) Schoenfelder Senior Vice President, Global Laser Components
Dr. Schoenfelder joined IPG in June 2025 as Senior Vice President, Global Laser Components. Prior to IPG, he held senior leadership roles, including General Manager positions across multiple laser and photonics business units, at Lumentum, JDSU, and SDL. Most recently, he served as Senior Vice President at Lumentum, where he led global teams focused on commercial laser systems, integrated photonics, and passive optical products.
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Here are the key risks to IPG Photonics' business:
- Geopolitical Trade Friction and Economic Conditions: IPG Photonics is highly exposed to changes in the global trade environment, including trade controls, tariffs, and general economic uncertainty, particularly in China, a major market for the company. For example, tariffs can directly impact the company's gross margins and revenue guidance. The divestiture of Russian operations in 2024 due to geopolitical volatility also underscores this risk.
- Intense Market Competition and Declining Average Selling Prices: The fiber laser industry in which IPG Photonics operates is intensely competitive, characterized by significant price and technological competition from both larger and smaller rivals. This competitive pressure often leads to declining average selling prices (ASPs), which in turn negatively impacts the company's gross margins even when demand for its products is stable.
- Concentration in Cyclical Materials Processing Markets and Operational Risks: A substantial portion of IPG Photonics' revenue, approximately 85.7% in 2025, is derived from the materials processing segment. A downturn in core applications within this market, such as cutting and welding, poses a significant risk. Additionally, the company faces operational risks related to its vertically integrated model, including the potential for lower-than-expected manufacturing yields, high inventory levels, and reliance on single or limited-source suppliers for key components. The high-fixed-cost structure associated with vertical integration also presents an ongoing operational challenge.
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IPG Photonics (IPGP) operates in several significant global markets related to its fiber lasers, fiber amplifiers, diode lasers, integrated laser systems, and optical transceiver and transponder modules.
Fiber Lasers
The global fiber laser market was valued at approximately USD 4.63 billion in 2025 and is projected to grow to USD 13.08 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 12.3% during the forecast period. Another estimate places the market at USD 5.1 billion in 2026, with a projection to reach USD 15.1 billion by 2036 at a CAGR of 11.5%.
Diode Lasers
The global laser diode market was estimated at USD 9.15 billion in 2024 and is predicted to attain around USD 25.84 billion by 2034, with a CAGR of 10.94% from 2025 to 2034. Another report valued the market at USD 7.28 billion in 2025 and expects it to reach USD 25.64 billion by 2035, growing at a CAGR of 13.42% from 2026-2035.
Fiber Amplifiers
The global optical amplifier market, which includes fiber amplifiers, was valued at USD 916.4 million in 2021 and is projected to reach USD 1.8 billion by 2031, growing at a CAGR of 6.9%. The fiber amplifier segment dominated this market in 2021.
Integrated Laser Systems (for Materials Processing)
The global market for industrial laser systems was valued at USD 23.64 billion in 2024 and is projected to grow to USD 48.05 billion by 2033, growing at a CAGR of 8.20%. Another source estimates the global laser processing equipment market size was valued at USD 28.51 billion in 2025 and is projected to grow to USD 88.83 billion by 2034, exhibiting a CAGR of 14%. The global market for laser systems for materials processing reached approximately USD 23.5 billion in 2023.
Optical Transceiver and Transponder Modules
The global optical transceiver market was valued at USD 13.6 billion in 2024 and is projected to grow to USD 25.0 billion by 2029, at a CAGR of 13.0%. Other estimates place the market size at USD 14.7 billion in 2025, projected to reach USD 46.12 billion by 2034 with a CAGR of 17.00%. The market size is also projected to reach USD 29.26 billion by 2031, reflecting a 13.67% CAGR.
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Share Repurchases
- In February 2026, IPG Photonics authorized a new share repurchase program of up to $100 million of its common stock.
- The company completed a prior share repurchase program, under which approximately $300.23 million of shares were repurchased by February 2026.
- In 2024, IPG Photonics repurchased $343.8 million of its own shares under an authorization that allowed for purchases of up to $300 million of common stock.
Share Issuance
- On May 20, 2025, shareholders approved the 2025 Incentive Compensation Plan, authorizing the issuance of 2,100,000 shares for employee awards.
Outbound Investments
- In October 2024, IPG Photonics acquired Clean-Lasersysteme GmbH (cleanLASER), a developer of laser cleaning systems, for approximately $75 million.
Capital Expenditures
- IPG Photonics' capital expenditures were $78.8 million in 2025, $98.5 million in 2024, and $110.5 million in 2023.
- For 2025, the company had planned to invest approximately $105 million to $115 million in capital expenditures, with a focus on replacing capacity in Russia, increasing redundant capacity for critical components, and upgrading equipment at other facilities.
- These investments primarily relate to the expansion of manufacturing capacity, and to a lesser extent, research and development and sales-related facilities.
Peer Outperformance in Electronic Manufacturing Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services ← | 9 | 70.5% | 248.3% | 436.8% | TTMI 886% · FLEX 830% · FN 525% |
| Semiconductor Materials & Equipment | 27 | 166.8% | 102.2% | 147.4% | AEHR 2075% · AXTI 708% · KLAC 570% |
| Technology Distributors | 9 | 21.4% | 61.9% | 81.4% | CLMB 347% · AVT 166% · SNX 118% |
| Electronic Components | 26 | 70.2% | 78.7% | 66.1% | CLS 3882% · BELFA 1479% · LPTH 546% |
| Communications Equipment | 35 | 42.9% | 106.0% | 58.9% | AAOI 1748% · LITE 1020% · FEIM 889% |
| Semiconductors | 54 | 45.1% | 46.5% | 43.5% | POET 2088% · MU 1273% · NVDA 1020% |
| Internet Services & Infrastructure | 6 | 12.1% | 40.8% | 23.5% | DOCN 147% · GDDY 41% · VRSN 39% |
| Technology Hardware, Storage & Peripherals | 22 | 43.9% | 80.5% | 23.5% | STX 1084% · DELL 980% · SMCI 979% |
| Electronic Equipment & Instruments | 27 | 5.6% | 14.1% | -1.8% | PI 258% · OSIS 127% · SOTK 124% |
| IT Consulting & Other Services | 28 | -23.7% | -12.1% | -16.5% | CHRN 542532% · APLD 2012% · TSSI 987% |
| Application Software | 123 | -17.2% | -13.2% | -41.7% | VIDA 241900% · PLTR 619% · RDVT 183% |
| Systems Software | 68 | -9.0% | 23.1% | -44.8% | QNC 930% · PANW 535% · ZETA 410% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 236.77 |
| Mkt Cap | 13.8 |
| Rev LTM | 1,779 |
| Op Inc LTM | 186 |
| FCF LTM | 78 |
| FCF 3Y Avg | 53 |
| CFO LTM | 137 |
| CFO 3Y Avg | 189 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 17.1% |
| Rev Chg 3Y Avg | 8.3% |
| Rev Chg Q | 24.4% |
| QoQ Delta Rev Chg LTM | 5.8% |
| Op Inc Chg LTM | 64.4% |
| Op Inc Chg 3Y Avg | 20.9% |
| Op Mgn LTM | 10.7% |
| Op Mgn 3Y Avg | 5.5% |
| QoQ Delta Op Mgn LTM | 1.2% |
| CFO/Rev LTM | 13.8% |
| CFO/Rev 3Y Avg | 12.0% |
| FCF/Rev LTM | 7.5% |
| FCF/Rev 3Y Avg | 6.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.8 |
| P/S | 7.9 |
| P/Op Inc | 70.5 |
| P/EBIT | 70.7 |
| P/E | 120.2 |
| P/CFO | 52.6 |
| Total Yield | 0.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.6% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.6% |
| 3M Rtn | -15.7% |
| 6M Rtn | 21.5% |
| 12M Rtn | 135.9% |
| 3Y Rtn | 291.9% |
| 1M Excs Rtn | -5.1% |
| 3M Excs Rtn | -21.5% |
| 6M Excs Rtn | 5.8% |
| 12M Excs Rtn | 110.3% |
| 3Y Excs Rtn | 211.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| High Power Continuous Wave (CW) Lasers | 309 | 333 | 525 | 614 | 687 |
| Other Revenue including Other Lasers, Amplifiers, Service, Parts, and Accessories | 265 | 247 | 295 | 284 | 265 |
| Laser and Non-Laser Systems | 147 | 139 | 161 | 153 | 127 |
| Pulsed Lasers | 143 | 147 | 186 | 251 | 241 |
| Medium Power Continuous Wave (CW) Lasers | 88 | 64 | 72 | 77 | 81 |
| Quasi-Continuous Wave (QCW) Lasers | 52 | 48 | 49 | 50 | 61 |
| Total | 1,004 | 977 | 1,287 | 1,430 | 1,461 |
Price Behavior
| Market Price | $83.94 | |
| Market Cap ($ Bil) | 3.5 | |
| First Trading Date | 12/13/2006 | |
| Distance from 52W High | -45.5% | |
| 50 Days | 200 Days | |
| DMA Price | $102.03 | $101.96 |
| DMA Trend | up | down |
| Distance from DMA | -17.7% | -17.7% |
| 3M | 1YR | |
| Volatility | 70.4% | 71.3% |
| Downside Capture | 435.07 | 217.22 |
| Upside Capture | 266.15 | 174.23 |
| Correlation (SPY) | 64.4% | 38.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.83 | 3.41 | 2.96 | 1.96 | 2.00 | 1.63 |
| Up Beta | 6.41 | 3.56 | 4.03 | 3.56 | 2.93 | 1.70 |
| Down Beta | -1.46 | 2.20 | 2.56 | 0.97 | 1.68 | 1.51 |
| Up Capture | 70% | 352% | 177% | 169% | 239% | 306% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 8 | 20 | 29 | 65 | 135 | 394 |
| Down Capture | 494% | 354% | 296% | 166% | 148% | 111% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 14 | 23 | 34 | 60 | 116 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | 7.3% | 71.2% | 0.39 | - |
| Sector ETF (XLK) | 43.0% | 25.9% | 1.34 | 42.2% |
| Equity (SPY) | 22.2% | 12.8% | 1.29 | 37.5% |
| Gold (GLD) | 29.6% | 28.5% | 0.90 | 16.2% |
| Commodities (DBC) | 36.9% | 20.1% | 1.45 | -11.3% |
| Real Estate (VNQ) | 15.2% | 13.9% | 0.78 | 6.7% |
| Bitcoin (BTCUSD) | -47.3% | 42.9% | -1.37 | 20.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | -14.0% | 47.9% | -0.15 | - |
| Sector ETF (XLK) | 20.6% | 25.8% | 0.71 | 51.6% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 50.3% |
| Gold (GLD) | 18.8% | 18.6% | 0.82 | 10.2% |
| Commodities (DBC) | 9.2% | 19.6% | 0.36 | 2.6% |
| Real Estate (VNQ) | 2.2% | 18.9% | 0.01 | 32.5% |
| Bitcoin (BTCUSD) | 9.2% | 52.8% | 0.36 | 23.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPGP | |
|---|---|---|---|---|
| IPGP | 0.4% | 46.0% | 0.18 | - |
| Sector ETF (XLK) | 24.8% | 24.9% | 0.90 | 53.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 50.6% |
| Gold (GLD) | 11.9% | 16.2% | 0.60 | 6.8% |
| Commodities (DBC) | 7.7% | 18.0% | 0.34 | 12.3% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 29.8% |
| Bitcoin (BTCUSD) | 60.3% | 66.1% | 1.00 | 13.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/13/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 7.9% | -2.6% | |
| 5/5/2026 | -25.7% | -15.4% | -0.6% |
| 2/12/2026 | 35.5% | 17.2% | 0.0% |
| 11/4/2025 | -2.2% | 0.8% | -3.5% |
| 8/5/2025 | -3.7% | -2.6% | 4.7% |
| 5/6/2025 | -13.0% | 2.7% | 8.1% |
| 2/11/2025 | -5.5% | -5.1% | -11.4% |
| 10/29/2024 | 7.3% | 1.6% | -2.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 8 |
| # Negative | 16 | 15 | 16 |
| Median Positive | 7.7% | 3.5% | 5.5% |
| Median Negative | -6.5% | -9.3% | -11.0% |
| Max Positive | 35.5% | 17.2% | 14.5% |
| Max Negative | -25.7% | -23.0% | -21.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/4/2026 | 7.9% | -2.6% | |
| 5/5/2026 | -25.7% | -15.4% | -0.6% |
| 2/12/2026 | 35.5% | 17.2% | 0.0% |
| 11/4/2025 | -2.2% | 0.8% | -3.5% |
| 8/5/2025 | -3.7% | -2.6% | 4.7% |
| 5/6/2025 | -13.0% | 2.7% | 8.1% |
| 2/11/2025 | -5.5% | -5.1% | -11.4% |
| 10/29/2024 | 7.3% | 1.6% | -2.7% |
| 7/30/2024 | -7.3% | -23.0% | -21.1% |
| 4/30/2024 | -5.2% | -0.2% | -5.7% |
| 2/13/2024 | -16.1% | -16.7% | -13.8% |
| 10/31/2023 | 2.6% | 10.4% | 14.5% |
| 8/1/2023 | -17.6% | -15.4% | -18.4% |
| 5/2/2023 | 1.5% | -1.3% | -6.3% |
| 2/14/2023 | 11.6% | 12.0% | 3.3% |
| 11/1/2022 | -0.2% | 1.6% | 6.3% |
| 8/2/2022 | -4.7% | -5.1% | -15.2% |
| 5/3/2022 | 7.7% | 1.6% | 3.1% |
| 2/15/2022 | -6.2% | -7.4% | -20.5% |
| 11/2/2021 | 8.6% | 4.4% | -0.5% |
| 8/3/2021 | -18.3% | -18.3% | -21.5% |
| 5/4/2021 | -10.4% | -11.4% | -2.0% |
| 2/16/2021 | 1.4% | -9.3% | -14.3% |
| 10/30/2020 | -0.6% | 5.6% | 10.7% |
| 8/4/2020 | -6.9% | -12.1% | -10.7% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 8 |
| # Negative | 16 | 15 | 16 |
| Median Positive | 7.7% | 3.5% | 5.5% |
| Median Negative | -6.5% | -9.3% | -11.0% |
| Max Positive | 35.5% | 17.2% | 14.5% |
| Max Negative | -25.7% | -23.0% | -21.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/21/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/05/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 11/05/2019 | 10-Q |
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 265.00 Mil | 280.00 Mil | 295.00 Mil | 1.8% | Higher New | Guidance: 275.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted Gross Margin | 37.5% | 39.0% | 40.5% | 0.5% | Higher New | Guidance: 38.5% for Q2 2026 | |
| Q3 2026 Adjusted Operating Expenses | 92.00 Mil | 93.50 Mil | 95.00 Mil | 0 | Same New | Guidance: 93.50 Mil for Q2 2026 | |
| Q3 2026 Adjusted EPS | 0.3 | 0.45 | 0.6 | 12.5% | 5.0% | Higher New | Guidance: 0.4 for Q2 2026 |
| Q3 2026 Adjusted EBITDA | 35.00 Mil | 43.00 Mil | 51.00 Mil | 7.5% | Higher New | Guidance: 40.00 Mil for Q2 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 260.00 Mil | 275.00 Mil | 290.00 Mil | 10.0% | Higher New | Guidance: 250.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted Gross Margin | 37.0% | 38.5% | 40.0% | 0.5% | Higher New | Guidance: 38.0% for Q1 2026 | |
| Q2 2026 Adjusted Operating Expenses | 92.00 Mil | 93.50 Mil | 95.00 Mil | 2.7% | Higher New | Guidance: 91.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted EPS | 0.25 | 0.4 | 0.55 | 60.0% | Higher New | Guidance: 0.25 for Q1 2026 | |
| Q2 2026 Adjusted EBITDA | 32.00 Mil | 40.00 Mil | 48.00 Mil | 23.1% | Higher New | Guidance: 32.50 Mil for Q1 2026 | |
Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 235.00 Mil | 250.00 Mil | 265.00 Mil | 2.0% | Higher New | Guidance: 245.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted Gross Margin | 37.0% | 38.0% | 39.0% | 0.5% | Higher New | Guidance: 37.5% for Q4 2025 | |
| Q1 2026 Operating Expenses | 90.00 Mil | 91.00 Mil | 92.00 Mil | 0 | Same New | Guidance: 91.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted EPS | 0.1 | 0.25 | 0.4 | 5.0% | Higher New | Guidance: 0.2 for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | 25.00 Mil | 32.50 Mil | 40.00 Mil | 10.2% | Higher New | Guidance: 29.50 Mil for Q4 2025 | |
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 230.00 Mil | 245.00 Mil | 260.00 Mil | 2.1% | Higher New | Guidance: 240.00 Mil for Q3 2025 | |
| Q4 2025 Adjusted Gross Margin | 36.0% | 37.5% | 39.0% | 0.5% | Higher New | Guidance: 37.0% for Q3 2025 | |
| Q4 2025 Operating Expenses | 90.00 Mil | 91.00 Mil | 92.00 Mil | 1.1% | Higher New | Guidance: 90.00 Mil for Q3 2025 | |
| Q4 2025 Adjusted EPS | 0.05 | 0.2 | 0.35 | 0.0% | Same New | Guidance: 0.2 for Q3 2025 | |
| Q4 2025 Adjusted EBITDA | 21.00 Mil | 29.50 Mil | 38.00 Mil | 1.7% | Higher New | Guidance: 29.00 Mil for Q3 2025 | |
Insider Activity
Updated 8/10/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ip, Fibre Devices Ltd | Direct | Sell | 8052026 | 96.12 | 18,111 | 1,740,761 | 615,719,377 | Form | |
| 2 | Ip, Fibre Devices Ltd | Direct | Sell | 8052026 | 95.18 | 12,202 | 1,161,386 | 611,445,838 | Form | |
| 3 | Ip, Fibre Devices Ltd | Direct | Sell | 8042026 | 85.81 | 27,000 | 2,316,899 | 552,306,054 | Form | |
| 4 | Scherbakov, Eugene A | Direct | Sell | 8042026 | 86.61 | 1,524 | 131,994 | 4,175,468 | Form | |
| 5 | Valentin, Gapontsev Trust I | Direct | Sell | 7222026 | 102.31 | 56,316 | 5,761,475 | 682,411,179 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ip, Fibre Devices Ltd | Direct | Sell | 8052026 | 96.12 | 18,111 | 1,740,761 | 615,719,377 | Form | |
| 2 | Ip, Fibre Devices Ltd | Direct | Sell | 8052026 | 95.18 | 12,202 | 1,161,386 | 611,445,838 | Form | |
| 3 | Ip, Fibre Devices Ltd | Direct | Sell | 8042026 | 85.81 | 27,000 | 2,316,899 | 552,306,054 | Form | |
| 4 | Scherbakov, Eugene A | Direct | Sell | 8042026 | 86.61 | 1,524 | 131,994 | 4,175,468 | Form | |
| 5 | Valentin, Gapontsev Trust I | Direct | Sell | 7222026 | 102.31 | 56,316 | 5,761,475 | 682,411,179 | Form | |
| 6 | Ip, Fibre Devices Ltd | Direct | Sell | 7012026 | 103.64 | 65,700 | 6,809,233 | 669,865,018 | Form | |
| 7 | Lopresti, Angelo P | SVP, Secretary & Gen Counsel | Direct | Sell | 7012026 | 110.33 | 1,000 | 110,330 | 6,602,258 | Form |
| 8 | Scherbakov, Eugene A | Direct | Sell | 7012026 | 101.55 | 1,524 | 154,757 | 5,050,319 | Form | |
| 9 | Agnes, Tang | Direct | Sell | 6232026 | 117.85 | 1,511 | 178,078 | 1,129,987 | Form | |
| 10 | Mammen, Timothy PV | SVP, Chief Financial Officer | Direct | Sell | 5262026 | 119.81 | 9,975 | 1,195,098 | 9,157,987 | Form |
| 11 | Desmond, Jeanmarie F | Direct | Sell | 5152026 | 105.58 | 1,690 | 178,430 | 1,107,112 | Form | |
| 12 | Buttarazzi, Mary E | VP, Corp Controller and CAO | Direct | Sell | 3172026 | 116.22 | 500 | 58,110 | 551,929 | Form |
| 13 | Ip, Fibre Devices Ltd | Direct | Sell | 2242026 | 136.89 | 1,620 | 221,768 | 893,780,071 | Form | |
| 14 | Scherbakov, Eugene A | Direct | Sell | 2242026 | 137.83 | 2,700 | 372,141 | 8,062,366 | Form | |
| 15 | Ip, Fibre Devices Ltd | Direct | Sell | 2242026 | 133.52 | 33,380 | 4,456,899 | 871,968,872 | Form | |
| 16 | Ip, Fibre Devices Ltd | Direct | Sell | 2242026 | 131.94 | 29,167 | 3,848,311 | 866,058,319 | Form | |
| 17 | Valentin, Gapontsev Trust I | Direct | Sell | 2182026 | 130.84 | 66,500 | 8,700,865 | 880,108,746 | Form | |
| 18 | Meurice, Eric | Direct | Sell | 2032026 | 95.00 | 750 | 71,250 | 2,166,285 | Form | |
| 19 | Lopresti, Angelo P | SVP, Secretary & Gen Counsel | Direct | Sell | 1232026 | 85.00 | 1,500 | 127,500 | 4,962,725 | Form |
| 20 | Scherbakov, Eugene A | Direct | Sell | 1212026 | 80.96 | 2,700 | 218,586 | 4,803,222 | Form | |
| 21 | Ip, Fibre Devices Ltd | Direct | Sell | 1212026 | 81.52 | 13,381 | 1,090,848 | 537,489,263 | Form | |
| 22 | Ip, Fibre Devices Ltd | Direct | Sell | 1212026 | 79.90 | 21,619 | 1,727,251 | 527,830,641 | Form | |
| 23 | Ip, Fibre Devices Ltd | Direct | Sell | 1212026 | 79.87 | 29,167 | 2,329,616 | 529,402,732 | Form | |
| 24 | Valentin, Gapontsev Trust I | Direct | Sell | 1162026 | 80.10 | 7,952 | 636,987 | 544,154,344 | Form | |
| 25 | Valentin, Gapontsev Trust I | Direct | Sell | 1142026 | 77.57 | 17,526 | 1,359,574 | 527,589,378 | Form | |
| 26 | Valentin, Gapontsev Trust I | Direct | Sell | 1142026 | 76.98 | 23,029 | 1,772,769 | 524,892,992 | Form | |
| 27 | Valentin, Gapontsev Trust I | Direct | Sell | 1142026 | 76.25 | 17,993 | 1,372,011 | 521,689,595 | Form | |
| 28 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 74.76 | 12,785 | 955,846 | 497,723,034 | Form | |
| 29 | Scherbakov, Eugene A | Direct | Sell | 12292025 | 74.44 | 2,700 | 200,986 | 4,617,472 | Form | |
| 30 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 74.62 | 28,445 | 2,122,581 | 497,727,993 | Form | |
| 31 | Ip, Fibre Devices Ltd | Direct | Sell | 12292025 | 75.43 | 22,937 | 1,730,163 | 505,280,082 | Form | |
| 32 | Valentin, Gapontsev Trust I | Direct | Sell | 12162025 | 77.06 | 27,116 | 2,089,452 | 528,573,641 | Form | |
| 33 | Valentin, Gapontsev Trust I | Direct | Sell | 12162025 | 77.63 | 39,384 | 3,057,380 | 534,615,685 | Form | |
| 34 | Lopresti, Angelo P | SVP, Secretary & Gen Counsel | Direct | Sell | 12102025 | 85.07 | 1,500 | 127,605 | 5,094,417 | Form |
| 35 | Agnes, Tang | Direct | Sell | 11252025 | 76.75 | 1,881 | 144,363 | 664,869 | Form | |
| 36 | Scherbakov, Eugene A | Direct | Sell | 11252025 | 76.03 | 2,700 | 205,294 | 4,921,731 | Form | |
| 37 | Ip, Fibre Devices Ltd | Direct | Sell | 11252025 | 76.36 | 35,000 | 2,672,575 | 513,249,141 | Form | |
| 38 | Ip, Fibre Devices Ltd | Direct | Sell | 11252025 | 74.26 | 29,167 | 2,165,973 | 501,745,238 | Form | |
| 39 | Ness, Trevor | SVP, Chief Revenue Officer | Direct | Sell | 11192025 | 75.58 | 1,681 | 127,050 | 2,812,029 | Form |
| 40 | Valentin, Gapontsev Trust I | Direct | Sell | 11192025 | 76.13 | 47,901 | 3,646,570 | 527,264,614 | Form | |
| 41 | Valentin, Gapontsev Trust I | Direct | Sell | 11192025 | 77.67 | 18,599 | 1,444,615 | 541,682,121 | Form | |
| 42 | Meurice, Eric | Direct | Sell | 11072025 | 92.00 | 750 | 69,000 | 2,097,876 | Form | |
| 43 | Lopresti, Angelo P | SVP, Secretary & Gen Counsel | Direct | Sell | 10292025 | 87.13 | 1,500 | 130,695 | 5,348,475 | Form |
| 44 | Scherbakov, Eugene A | Direct | Sell | 10212025 | 87.64 | 2,700 | 236,633 | 5,909,694 | Form | |
| 45 | Ip, Fibre Devices Ltd | Direct | Sell | 10212025 | 87.92 | 23,966 | 2,107,007 | 596,572,408 | Form | |
| 46 | Ip, Fibre Devices Ltd | Direct | Sell | 10212025 | 87.70 | 23,642 | 2,073,313 | 597,179,068 | Form | |
| 47 | Ness, Trevor | SVP, Sales & Strategic Bus Dev | Direct | Sell | 10212025 | 87.00 | 1,678 | 145,978 | 3,382,991 | Form |
| 48 | Ip, Fibre Devices Ltd | Direct | Sell | 10212025 | 84.68 | 16,559 | 1,402,176 | 578,625,561 | Form | |
| 49 | Valentin, Gapontsev Trust I | Direct | Sell | 10152025 | 85.09 | 17,707 | 1,506,670 | 594,992,892 | Form | |
| 50 | Valentin, Gapontsev Trust I | Direct | Sell | 10152025 | 82.97 | 16,529 | 1,371,378 | 581,630,843 | Form | |
| 51 | Valentin, Gapontsev Trust I | Direct | Sell | 10152025 | 83.19 | 32,264 | 2,684,094 | 584,573,659 | Form | |
| 52 | Meurice, Eric | Direct | Sell | 10082025 | 89.66 | 1,502 | 134,676 | 2,044,619 | Form | |
| 53 | Lopresti, Angelo P | SVP, Secretary & Gen Counsel | Direct | Sell | 10062025 | 85.17 | 1,500 | 127,755 | 5,355,915 | Form |
| 54 | Scherbakov, Eugene A | Direct | Sell | 9242025 | 81.81 | 2,700 | 220,879 | 5,737,137 | Form | |
| 55 | Ip, Fibre Devices Ltd | Direct | Sell | 9222025 | 82.10 | 35,000 | 2,873,402 | 562,352,536 | Form | |
| 56 | Ip, Fibre Devices Ltd | Direct | Sell | 9222025 | 81.49 | 29,167 | 2,376,897 | 561,063,746 | Form | |
| 57 | Ness, Trevor | SVP, Sales & Strategic Bus Dev | Direct | Sell | 9192025 | 82.64 | 1,678 | 138,674 | 3,352,380 | Form |
| 58 | Valentin, Gapontsev Trust I | Direct | Sell | 9162025 | 80.67 | 14,180 | 1,143,901 | 569,457,516 | Form | |
| 59 | Valentin, Gapontsev Trust I | Direct | Sell | 9162025 | 80.71 | 52,320 | 4,222,653 | 570,871,567 | Form | |
| 60 | Ness, Trevor | SVP, Sales & Strategic Bus Dev | Direct | Sell | 8282025 | 82.94 | 1,678 | 139,172 | 3,503,594 | Form |
| 61 | Desmond, Jeanmarie F | Direct | Sell | 8082025 | 76.24 | 1,360 | 103,686 | 742,578 | Form |
Investor Activity (13F)
Updated Aug 14, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
IPG Photonics — Investor Video Playlist
Industry Resources
| Information Technology Resources |
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| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Electronic Manufacturing Services Resources |
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External Quote Links
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| TradingView | Morningstar |
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| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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