IPG PHOTONICS CORP
IPGP · Semiconductors & Related Devices · 42.4M shares · -3%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $184M (gross $223M, SBC $40M)
Reference price $117.32 · est. market cap ~$5.0B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C56Vertically-integrated fiber-laser maker in a downturn — near breakeven — but debt-free and cash-rich.
Strengths
- Debt-free, cash-rich — current ratio 6.08 (82nd)
- Some revenue stabilization — +2.7%
Risks
- Near-breakeven — operating margin 1.3%, net income -117.1% (18th)
- Negative free cash flow — -$3.5M
- Laser-market competition (China) per risk factors — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Cash burnNegative free cash flow (-3.5M)
- Buying back stockNet buyback — share count -3%/yr over 4y
- Strong balance sheetStrong balance sheet — $916M cash & investments, ~1061 quarters of runway
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC +3 more (as of 2026-03-31)
- Insider sellingInsider selling — 64 open-market sale(s) by 9 insider(s) (cluster of 9 insiders, ~$30M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.0%
Operating margin
1.3%
Net margin
3.1%
Return on equity
1.5%
Return on assets
1.3%
Revenue growth (QoQ)
-3.3%
Current ratio
6.1×
Free cash flow
-$3M
EBITDA
$80M
Tangible book value
$2.0B
Cash & investments
$916M
Cash runway
1061q
Stock comp / revenue
4.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-22 | Agnes Tang | Sell | 200 | $119.32 |
| 2026-06-22 | Agnes Tang | Sell | 775 | $117.32 |
| 2026-06-22 | Agnes Tang | Sell | 536 | $118.08 |
| 2026-06-05 | Gitin Mark Milton | Tax withheld | 4.6K | $107.37 |
| 2026-05-22 | Mammen Timothy PV | Sell | 7.3K | $119.60 |
| 2026-05-22 | Mammen Timothy PV | Sell | 2.7K | $120.37 |
| 2026-05-14 | Desmond Jeanmarie F. | Sell | 1.7K | $105.58 |
| 2026-05-12 | Agnes Tang | Grant | 2.4K | — |
| 2026-05-12 | KENNEDY KOLLEEN T | Grant | 2.4K | — |
| 2026-05-12 | PEELER JOHN R | Grant | 2.4K | — |
| 2026-05-12 | Dougherty Greg | Grant | 2.4K | — |
| 2026-05-12 | Desmond Jeanmarie F. | Grant | 2.4K | — |
| 2026-05-12 | Beecher Gregory R | Grant | 2.4K | — |
| 2026-05-12 | Meurice Eric | Grant | 2.4K | — |
| 2026-05-12 | Samartsev Igor | Grant | 2.4K | — |
| 2026-03-17 | Buttarazzi Mary E. | Sell | 500 | $116.22 |
| 2026-03-01 | Gitin Mark Milton | Tax withheld | 7.6K | $131.57 |
| 2026-03-01 | Lopresti Angelo P | Tax withheld | 3.8K | $131.57 |
| 2026-03-01 | Mammen Timothy PV | Tax withheld | 4.3K | $131.57 |
| 2026-03-01 | Ness Trevor | Tax withheld | 3.4K | $131.57 |
| 2026-03-01 | Buttarazzi Mary E. | Tax withheld | 435 | $131.57 |
| 2026-03-01 | SCHERBAKOV EUGENE A | Tax withheld | 7.2K | $131.57 |
| 2026-03-01 | Samartsev Igor | Tax withheld | 836 | $131.57 |
| 2026-02-24 | IP FIBRE DEVICES LTD | Sell | 100 | $135.28 |
| 2026-02-24 | SCHERBAKOV EUGENE A | Sell | 600 | $139.95 |
| 2026-02-24 | SCHERBAKOV EUGENE A | Sell | 400 | $138.33 |
| 2026-02-24 | SCHERBAKOV EUGENE A | Sell | 1.5K | $137.13 |
| 2026-02-24 | SCHERBAKOV EUGENE A | Sell | 200 | $135.72 |
| 2026-02-24 | IP FIBRE DEVICES LTD | Sell | 1.5K | $137.00 |
| 2026-02-23 | IP FIBRE DEVICES LTD | Sell | 4.6K | $132.31 |
| 2026-02-23 | IP FIBRE DEVICES LTD | Sell | 4.2K | $131.41 |
| 2026-02-23 | IP FIBRE DEVICES LTD | Sell | 8.0K | $133.61 |
| 2026-02-23 | IP FIBRE DEVICES LTD | Sell | 16K | $134.35 |
| 2026-02-23 | IP FIBRE DEVICES LTD | Sell | 120 | $134.95 |
| 2026-02-20 | IP FIBRE DEVICES LTD | Sell | 2.3K | $129.93 |
| 2026-02-20 | IP FIBRE DEVICES LTD | Sell | 5.5K | $132.94 |
| 2026-02-20 | IP FIBRE DEVICES LTD | Sell | 500 | $128.79 |
| 2026-02-20 | IP FIBRE DEVICES LTD | Sell | 16K | $132.21 |
| 2026-02-20 | IP FIBRE DEVICES LTD | Sell | 4.5K | $131.11 |
| 2026-02-18 | Samartsev Igor | Grant | 1.7K | — |
| 2026-02-18 | Gitin Mark Milton | Grant | 20K | — |
| 2026-02-18 | Buttarazzi Mary E. | Grant | 1.8K | — |
| 2026-02-18 | Ness Trevor | Grant | 4.6K | — |
| 2026-02-18 | Mammen Timothy PV | Grant | 6.1K | — |
| 2026-02-18 | Bucher Paulus | Grant | 2.5K | — |
| 2026-02-18 | Lopresti Angelo P | Grant | 4.5K | — |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 790 | $137.79 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 6.6K | $125.40 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 6.8K | $126.33 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 4.4K | $127.42 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 5.0K | $128.33 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 3.9K | $129.56 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 4.9K | $130.57 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 8.4K | $131.67 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 16K | $132.40 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 4.0K | $133.42 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 125 | $134.12 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 1.4K | $135.93 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 1.4K | $136.89 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 760 | $138.82 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 100 | $140.58 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 376 | $141.97 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 137 | $143.71 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 480 | $144.29 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 410 | $146.21 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 220 | $148.00 |
| 2026-02-17 | Valentin Gapontsev Trust I | Sell | 390 | $149.88 |
| 2026-02-17 | Samartsev Igor | Option exercise | 3.4K | $81.89 |
| 2026-02-13 | SCHERBAKOV EUGENE A | Tax withheld | 5.7K | $153.91 |
| 2026-02-13 | SCHERBAKOV EUGENE A | Option exercise | 7.6K | $81.89 |
| 2026-02-12 | Lopresti Angelo P | Option exercise | 5.9K | $81.89 |
| 2026-02-12 | Lopresti Angelo P | Tax withheld | 4.0K | $150.25 |
| 2026-02-02 | Meurice Eric | Option exercise | 750 | $87.87 |
| 2026-02-02 | Meurice Eric | Sell | 750 | $95.00 |
| 2026-01-21 | Lopresti Angelo P | Sell | 1.5K | $85.00 |
| 2026-01-21 | SCHERBAKOV EUGENE A | Sell | 93 | $79.33 |
| 2026-01-21 | SCHERBAKOV EUGENE A | Sell | 1.2K | $80.37 |
| 2026-01-21 | SCHERBAKOV EUGENE A | Sell | 1.4K | $81.57 |
| 2026-01-21 | IP FIBRE DEVICES LTD | Sell | 12K | $81.65 |
| 2026-01-21 | IP FIBRE DEVICES LTD | Sell | 1.3K | $80.34 |
| 2026-01-20 | IP FIBRE DEVICES LTD | Sell | 14K | $80.43 |
| 2026-01-20 | IP FIBRE DEVICES LTD | Sell | 7.7K | $78.92 |
| 2026-01-16 | IP FIBRE DEVICES LTD | Sell | 15K | $80.20 |
| 2026-01-16 | IP FIBRE DEVICES LTD | Sell | 15K | $79.54 |
| 2026-01-15 | Valentin Gapontsev Trust I | Sell | 7.4K | $80.16 |
| 2026-01-15 | Valentin Gapontsev Trust I | Sell | 571 | $79.38 |
| 2026-01-14 | Valentin Gapontsev Trust I | Sell | 700 | $78.55 |
| 2026-01-14 | Valentin Gapontsev Trust I | Sell | 13K | $77.63 |
| 2026-01-14 | Valentin Gapontsev Trust I | Sell | 3.7K | $77.19 |
| 2026-01-13 | Valentin Gapontsev Trust I | Sell | 17K | $76.71 |
| 2026-01-13 | Valentin Gapontsev Trust I | Sell | 6.3K | $77.70 |
| 2026-01-12 | Valentin Gapontsev Trust I | Sell | 1.9K | $76.69 |
| 2026-01-12 | Valentin Gapontsev Trust I | Sell | 16K | $76.20 |
| 2025-12-24 | IP FIBRE DEVICES LTD | Sell | 2.2K | $75.11 |
| 2025-12-24 | IP FIBRE DEVICES LTD | Sell | 11K | $74.69 |
| 2025-12-23 | IP FIBRE DEVICES LTD | Sell | 28K | $74.62 |
| 2025-12-23 | SCHERBAKOV EUGENE A | Sell | 2.7K | $74.43 |
| 2025-12-23 | SCHERBAKOV EUGENE A | Sell | 45 | $74.99 |
| 2025-12-23 | IP FIBRE DEVICES LTD | Sell | 40 | $75.00 |
| 2025-12-22 | IP FIBRE DEVICES LTD | Sell | 16K | $75.20 |
| 2025-12-22 | IP FIBRE DEVICES LTD | Sell | 7 | $76.69 |
| 2025-12-22 | IP FIBRE DEVICES LTD | Sell | 6.9K | $75.97 |
| 2025-12-16 | Valentin Gapontsev Trust I | Sell | 12K | $77.44 |
| 2025-12-16 | Valentin Gapontsev Trust I | Sell | 14K | $76.59 |
| 2025-12-16 | Valentin Gapontsev Trust I | Sell | 1.4K | $78.22 |
| 2025-12-15 | Valentin Gapontsev Trust I | Sell | 39K | $77.63 |
| 2025-12-09 | Lopresti Angelo P | Sell | 1.5K | $85.07 |
| 2025-11-25 | Agnes Tang | Sell | 100 | $77.25 |
| 2025-11-25 | Agnes Tang | Sell | 1.8K | $76.72 |
| 2025-11-24 | SCHERBAKOV EUGENE A | Sell | 755 | $75.30 |
| 2025-11-24 | SCHERBAKOV EUGENE A | Sell | 1.9K | $76.32 |
| 2025-11-24 | IP FIBRE DEVICES LTD | Sell | 4.6K | $75.83 |
| 2025-11-24 | IP FIBRE DEVICES LTD | Sell | 12 | $76.98 |
| 2025-11-24 | IP FIBRE DEVICES LTD | Sell | 30K | $76.44 |
| 2025-11-21 | IP FIBRE DEVICES LTD | Sell | 7.9K | $73.16 |
| 2025-11-21 | IP FIBRE DEVICES LTD | Sell | 20K | $74.65 |
| 2025-11-21 | IP FIBRE DEVICES LTD | Sell | 1.1K | $74.97 |
| 2025-11-18 | Ness Trevor | Sell | 1.7K | $75.58 |
| 2025-11-18 | Valentin Gapontsev Trust I | Sell | 27K | $75.88 |
| 2025-11-18 | Valentin Gapontsev Trust I | Sell | 21K | $76.45 |
| 2025-11-17 | Valentin Gapontsev Trust I | Sell | 9.9K | $76.63 |
| 2025-11-17 | Valentin Gapontsev Trust I | Sell | 4.9K | $78.50 |
| 2025-11-17 | Valentin Gapontsev Trust I | Sell | 3.8K | $79.33 |
| 2025-11-06 | Meurice Eric | Option exercise | 750 | $87.87 |
| 2025-11-06 | Meurice Eric | Sell | 750 | $92.00 |
| 2025-10-27 | Lopresti Angelo P | Sell | 1.5K | $87.13 |
| 2025-10-21 | IP FIBRE DEVICES LTD | Sell | 13K | $88.05 |
| 2025-10-21 | IP FIBRE DEVICES LTD | Sell | 11K | $87.77 |
| 2025-10-21 | SCHERBAKOV EUGENE A | Sell | 2.3K | $87.61 |
| 2025-10-21 | SCHERBAKOV EUGENE A | Sell | 359 | $87.85 |
| 2025-10-20 | Ness Trevor | Sell | 65 | $87.83 |
| 2025-10-20 | IP FIBRE DEVICES LTD | Sell | 6.5K | $87.10 |
| 2025-10-20 | IP FIBRE DEVICES LTD | Sell | 16K | $87.88 |
| 2025-10-20 | IP FIBRE DEVICES LTD | Sell | 1.1K | $88.54 |
| 2025-10-20 | Ness Trevor | Sell | 350 | $86.03 |
| 2025-10-20 | Ness Trevor | Sell | 1.3K | $87.22 |
| 2025-10-17 | IP FIBRE DEVICES LTD | Sell | 875 | $85.71 |
| 2025-10-17 | IP FIBRE DEVICES LTD | Sell | 16K | $84.62 |
| 2025-10-15 | Valentin Gapontsev Trust I | Sell | 7.2K | $85.97 |
| 2025-10-15 | Valentin Gapontsev Trust I | Sell | 5.3K | $84.24 |
| 2025-10-15 | Valentin Gapontsev Trust I | Sell | 5.2K | $84.73 |
| 2025-10-14 | Valentin Gapontsev Trust I | Sell | 1.7K | $80.96 |
| 2025-10-14 | Valentin Gapontsev Trust I | Sell | 3.0K | $82.19 |
| 2025-10-14 | Valentin Gapontsev Trust I | Sell | 8.4K | $83.22 |
| 2025-10-14 | Valentin Gapontsev Trust I | Sell | 3.4K | $84.00 |
| 2025-10-13 | Valentin Gapontsev Trust I | Sell | 1.1K | $83.86 |
| 2025-10-13 | Valentin Gapontsev Trust I | Sell | 1.7K | $82.09 |
| 2025-10-13 | Valentin Gapontsev Trust I | Sell | 30K | $83.23 |
| 2025-10-07 | Meurice Eric | Option exercise | 1.5K | $87.87 |
| 2025-10-07 | Meurice Eric | Sell | 674 | $89.24 |
| 2025-10-07 | Meurice Eric | Sell | 828 | $90.01 |
| 2025-10-06 | Lopresti Angelo P | Sell | 1.5K | $85.17 |
| 2025-09-23 | SCHERBAKOV EUGENE A | Sell | 1.6K | $81.54 |
| 2025-09-23 | SCHERBAKOV EUGENE A | Sell | 1.1K | $82.17 |
| 2025-09-22 | IP FIBRE DEVICES LTD | Sell | 8.5K | $81.53 |
| 2025-09-22 | IP FIBRE DEVICES LTD | Sell | 26K | $82.28 |
| 2025-09-19 | IP FIBRE DEVICES LTD | Sell | 9.0K | $80.78 |
| 2025-09-19 | IP FIBRE DEVICES LTD | Sell | 20K | $81.81 |
| 2025-09-18 | Ness Trevor | Sell | 1.6K | $82.61 |
| 2025-09-18 | Ness Trevor | Sell | 100 | $83.15 |
| 2025-09-16 | Valentin Gapontsev Trust I | Sell | 14K | $80.67 |
| 2025-09-15 | Valentin Gapontsev Trust I | Sell | 38K | $80.54 |
| 2025-09-15 | Valentin Gapontsev Trust I | Sell | 14K | $81.15 |
| 2025-08-27 | Ness Trevor | Sell | 1.0K | $82.69 |
| 2025-08-27 | Ness Trevor | Sell | 674 | $83.31 |
| 2025-08-08 | Bucher Paulus | Grant | 4.2K | — |
| 2025-08-08 | Desmond Jeanmarie F. | Sell | 1.4K | $76.24 |
| 2025-06-18 | Meurice Eric | Tax withheld | 272 | — |
| 2025-06-06 | Lopresti Angelo P | Sell | 4.5K | $69.28 |
| 2025-06-05 | Gitin Mark Milton | Tax withheld | 4.6K | — |
| 2025-05-20 | Samartsev Igor | Grant | 3.8K | — |
| 2025-05-20 | PEELER JOHN R | Grant | 3.8K | — |
| 2025-05-20 | Dougherty Greg | Grant | 3.8K | — |
| 2025-05-20 | KENNEDY KOLLEEN T | Grant | 3.8K | — |
| 2025-05-20 | Meurice Eric | Grant | 3.8K | — |
| 2025-05-20 | Desmond Jeanmarie F. | Grant | 3.8K | — |
| 2025-05-20 | Beecher Gregory R | Grant | 3.8K | — |
| 2025-05-20 | Agnes Tang | Grant | 3.8K | — |
| 2025-05-20 | Shcherbakov Eugene A | Sell | 2.7K | $66.28 |
| 2025-05-20 | Shcherbakov Eugene A | Sell | 1.6K | $65.55 |
| 2025-05-19 | Shcherbakov Eugene A | Sell | 4.2K | $65.37 |
| 2025-05-07 | Shcherbakov Eugene A | Tax withheld | 602 | — |
| 2025-03-06 | Valentin Gapontsev Trust I | Sell | 69K | $62.56 |
| 2025-03-06 | Valentin Gapontsev Trust I | Sell | 5.6K | $63.33 |
| 2025-03-01 | Shcherbakov Eugene A | Tax withheld | 11K | — |
| 2025-03-01 | Mammen Timothy PV | Tax withheld | 2.7K | — |
| 2025-03-01 | Lopresti Angelo P | Tax withheld | 3.0K | — |
| 2025-03-01 | Ness Trevor | Tax withheld | 3.1K | — |
| 2025-03-01 | Samartsev Igor | Tax withheld | 821 | — |
| 2025-03-01 | Burgomaster Thomas J | Tax withheld | 774 | — |
| 2025-02-14 | Burgomaster Thomas J | Grant | 817 | — |
| 2025-02-14 | Samartsev Igor | Grant | 3.7K | — |
| 2025-02-14 | Lopresti Angelo P | Grant | 13K | — |
| 2025-02-14 | Ness Trevor | Grant | 13K | — |
| 2025-02-14 | Gitin Mark Milton | Grant | 55K | — |
| 2025-02-14 | Mammen Timothy PV | Grant | 16K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- Miller Electric Mfg. LLC
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-12 | 0001111928-26-000120 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001111928-26-000094 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001111928-26-000098 ↗ |
| 8-K | 2026-03-16 | 2026-03-16 | 0001111928-26-000074 ↗ |
| 10-K/A | 2026-03-06 | 2025-12-31 | 0001111928-26-000068 ↗ |
| 8-K | 2026-02-25 | 2026-02-25 | 0001111928-26-000051 ↗ |
| 10-K | 2026-02-23 | 2025-12-31 | 0001111928-26-000040 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001111928-26-000015 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001111928-25-000168 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001111928-25-000165 ↗ |
| 8-K | 2025-10-03 | 2025-09-30 | 0001111928-25-000147 ↗ |
| 10-Q | 2025-08-05 | 2025-06-30 | 0001111928-25-000132 ↗ |