Analyst Ratings

Date	Action	Analyst	Rating	Target
May-19-26	Reiterated	Roth Capital	Buy	$149 → $151
May-06-26	Upgrade	Needham	Hold → Buy	$110
Feb-13-26	Reiterated	Stifel Nicolaus	Hold	$92 → $165
Feb-13-26	Downgrade	Raymond James	Strong Buy → Outperform	$180
Feb-03-26	Reiterated	Roth Capital	Buy	$96 → $110
Nov-05-25	Upgrade	Citigroup	Sell → Buy
Nov-04-25	Reiterated	Stifel Nicolaus	Hold	$72 → $92
Oct-06-25	Initiated	Roth Capital	Buy	$96
Aug-07-25	Upgrade	Bernstein	Market Perform → Outperform
Apr-28-25	Reiterated	Stifel Nicolaus	Hold	$85 → $72

Financial Statements

DataTimeframe

Line Item (USD, M)	TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023
Total Revenue	1,041	1,004	977	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	650	622	639
Gross Profit	391	381	338
Selling, General and Administrative Excl. Other	244	241	214
Research and Development	122	117	110
Other Operating Expense	21	10	222
Operating Income	3	13	-208
Interest Expense	0	0	0
Unusual Expense	—	—	—
Non-Operating Income (Expense)	-27	-32	-223
Net Income Before Taxes	36	45	-162
Income Taxes	6	14	20
Consolidated Net Income	29	31	-182
Net Income From Continuing Operations	29	31	-182
Net Income	29	31	-182
EPS (Recurring)	0.70	0.73	-4.09
EPS (Basic, Before Extraordinaries)	0.70	0.73	-4.09
EPS (Diluted)	0.69	0.73	-4.09
EBITDA	98	112	76
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	171.03	98.08	—
Price To Sales Ratio	4.76	3.07	—
Gross Margin	37.56	37.95	34.60
Operating Margin	0.29	1.29	-21.29
Net Margin	2.79	3.09	-18.63
Shares Outstanding	42	43	44
Market Capitalization	4,956	3,079	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Mammen Timothy PV	SVP, Chief Financial Officer	May 22 '26	Sale	119.81	9,975	1,195,098	76,438	May 26 12:00 AM
Desmond Jeanmarie F.	Director	May 14 '26	Sale	105.58	1,690	178,430	10,486	May 15 12:00 AM
Buttarazzi Mary E.	VP, Corp Controller and CAO	Mar 17 '26	Sale	116.22	500	58,110	4,749	Mar 17 12:00 AM
SCHERBAKOV EUGENE A	director, 10 percent owner:	Feb 24 '26	Sale	137.83	2,700	372,141	58,495	Feb 24 12:00 AM
IP FIBRE DEVICES LTD	10% Owner	Feb 24 '26	Sale	136.89	1,620	221,768	6,529,002	Feb 24 12:00 AM
IP FIBRE DEVICES LTD	10% Owner	Feb 23 '26	Sale	133.52	33,380	4,456,898	6,530,622	Feb 24 12:00 AM
IP FIBRE DEVICES LTD	10% Owner	Feb 20 '26	Sale	131.94	29,167	3,848,312	6,564,002	Feb 24 12:00 AM
Valentin Gapontsev Trust I	10% Owner	Feb 17 '26	Sale	130.84	66,500	8,700,866	6,726,599	Feb 18 12:00 AM
Samartsev Igor	SVP, Chief Scientist	Feb 17 '26	Option Exercise	81.89	6,726	550,792	9,597	Feb 17 12:00 AM
SCHERBAKOV EUGENE A	director, 10 percent owner:	Feb 13 '26	Option Exercise	81.89	15,184	1,243,418	66,922	Feb 17 12:00 AM
Lopresti Angelo P	SVP, Secretary & Gen Counsel	Feb 12 '26	Option Exercise	81.89	11,722	959,914	64,246	Feb 17 12:00 AM
Meurice Eric	Director	Feb 02 '26	Option Exercise	87.87	1,500	131,806	23,553	Feb 03 12:00 AM
Meurice Eric	Director	Feb 02 '26	Sale	95.00	750	71,250	22,803	Feb 03 12:00 AM
Lopresti Angelo P	SVP, Secretary & Gen Counsel	Jan 21 '26	Sale	85.00	1,500	127,500	58,385	Jan 23 12:00 AM
SCHERBAKOV EUGENE A	director, 10 percent owner:	Jan 21 '26	Sale	80.96	2,700	218,586	59,330	Jan 21 12:00 AM


Market Cap	4.82B	Forward P/E	55.04	EPS next Y	2.14	Insider Trans	-0.74%	Shs Float	-	Perf Month	4.13%


Enterprise Value	4.36B	PEG	1.29	EPS next Q	0.40	Inst Own	-	Short Float	-	Perf Quarter	-3.88%


Income	28.94M	P/S	4.63	EPS this Y	84.13%	Inst Trans	-	Short Ratio	-	Perf Half Y	53.22%


Sales	1.04B	P/B	2.27	EPS next Y	68.74%	ROA	1.19%	Short Interest	-	Perf YTD	64.82%


Book/sh	49.86	P/C	85.06	EPS next 5Y	37.70%	ROE	1.37%	52W High	155.83 -24.27%	Perf Year	76.64%


Cash/sh	19.16	P/FCF	-	EPS past 3/5Y	-	ROIC	0.13%	52W Low	65.25 80.86%	Perf 3Y	-


Dividend Est.	-	EV/EBITDA	44.55	Sales past 3/5Y	-11.12% -3.52%	Gross Margin	37.56%	Volatility	3.47% 4.66%	Perf 5Y	-


Dividend TTM	-	EV/Sales	4.19	EPS Y/Y TTM	134.23%	Oper. Margin	0.34%	ATR (14)	7.72	Perf 10Y	-


Dividend Ex-Date	Dec 19, 2012	Quick Ratio	4.51	Sales Y/Y TTM	6.55%	Profit Margin	2.78%	RSI (14)	53.52	Recom	2.17


Dividend Gr. 3/5Y	-	Current Ratio	5.80	EPS Q/Q	-6.45%	SMA20	2.12%	Beta	1.84	Target Price	151.50


Payout	0.00%	Debt/Eq	0.01	Sales Q/Q	16.23%	SMA50	2.25%	Rel Volume	1.33	Prev Close	113.64


Employees	4,740	LT Debt/Eq	0.01	Earnings	Aug 04	SMA200	19.12%	Avg Volume	568.18K	Price	118.01


IPO Date	Dec 13, 2006	Option/Short	Yes / Yes	EPS/Sales Surpr.	-9.37% 3.11%	Net Debt/EBITDA	-4.75	Volume	753,808	Change	3.85%

IPGP