Market Summary
USD98.18-1.03
Market Closed-1.04%
IPGP Alerts
IPGP Stock Price
IPGP RSI Chart
IPGP Valuation
IPGP Price/Sales (Trailing)
IPGP Profitability
IPGP Fundamentals
IPGP Revenue
IPGP Earnings
Price Action
52 Week Range
79.88141.85
(Low)(High)
Last 7 days
-0.4%
Last 30 days
0.1%
Last 90 days
-23.9%
Trailing 12 Months
12.6%
IPGP Financial Health
IPGP Investor Care
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Net sales
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Latest Insider Trading transactions for IPGP
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-08 | Valentin Gapontsev Trust I | sold | -840,524 | 101 | -8,250 | - |
2023-08-24 | Valentin Gapontsev Trust I | sold | -846,629 | 102 | -8,250 | - |
2023-08-08 | Valentin Gapontsev Trust I | sold | -905,397 | 109 | -8,250 | - |
2023-08-04 | KENNEDY KOLLEEN T | acquired | 249,988 | 108 | 2,296 | - |
2023-07-31 | Meurice Eric | sold | -103,354 | 131 | -785 | - |
2023-07-24 | Valentin Gapontsev Trust I | sold | -1,076,430 | 130 | -8,250 | - |
2023-07-12 | Ovtchinnikov Alexander | sold | -270,760 | 140 | -1,934 | svp, chief technology officer |
2023-07-10 | Valentin Gapontsev Trust I | sold | -1,103,810 | 133 | -8,250 | - |
2023-06-29 | Meurice Eric | sold | -104,885 | 133 | -785 | - |
2023-06-29 | Meurice Eric | acquired | 49,769 | 63.4 | 785 | - |
Which funds bought or sold IPGP recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-18 | WASHINGTON CAPITAL MANAGEMENT, INC | sold off | -100 | -542,564 | - | -% |
2023-09-12 | Farther Finance Advisors, LLC | reduced | -40.00 | -210 | 407 | -% |
2023-09-01 | Orchard Capital Management, LLC | unchanged | - | 21,968 | 238,500 | 0.08% |
2023-08-22 | COMERICA BANK | new | - | 2,000 | 2,000 | -% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | reduced | -14.56 | -74,877 | 1,195,220 | 0.01% |
2023-08-21 | BOKF, NA | unchanged | - | 6,880 | 74,701 | -% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | reduced | -11.95 | -157,112 | 5,041,640 | 0.01% |
2023-08-21 | VisionPoint Advisory Group, LLC | new | - | 15,484 | 15,484 | 0.01% |
2023-08-21 | JOHN G ULLMAN & ASSOCIATES INC | unchanged | - | 25,035 | 275,035 | 0.04% |
2023-08-21 | OSAIC HOLDINGS, INC. | added | 3.54 | 95,427 | 774,446 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
IPGP Alerts
Schedule 13G FIlings of IPG Photonics
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | alliancebernstein l.p. | 0.7% | 327,312 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 6.02% | 2,930,832 | SC 13G/A | |
| Feb 09, 2023 | first eagle investment management, llc | 8.88% | 4,326,220 | SC 13G | |
| Feb 03, 2023 | blackrock inc. | 6.5% | 3,153,901 | SC 13G | |
| Feb 14, 2022 | alliancebernstein l.p. | 6.4% | 3,400,502 | SC 13G/A | |
| Nov 01, 2021 | valentin gapontsev trust i | 26.8% | 14,353,603 | SC 13D/A | |
| Nov 01, 2021 | shcherbakov eugene a | 13.1% | 6,997,834 | SC 13D | |
| Nov 01, 2021 | ip fibre devices ltd | 12.9% | 6,914,004 | SC 13G/A | |
| Nov 01, 2021 | gapontsev valentin p | 0% | 0 | SC 13G/A | |
| Apr 12, 2021 | blackrock inc. | 4.99% | 2,676,122 | SC 13G/A |
Recent SEC filings of IPG Photonics
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 12, 2023 | 4 | Insider Trading | |
| Sep 06, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 01, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 01, 2023 | 8-K | Current Report | |
| Aug 25, 2023 | 4 | Insider Trading | |
| Aug 16, 2023 | 4 | Insider Trading | |
| Aug 10, 2023 | 4 | Insider Trading | |
| Aug 07, 2023 | 3 | Insider Trading | |
| Aug 07, 2023 | 4 | Insider Trading | |
| Aug 03, 2023 | S-8 | Employee Benefits Plan |
Peers (Alternatives to IPG Photonics)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
APH | 49.6B | 12.6B | -0.77% | 18.19% | 26.05 | 3.95 | 5.26% | 6.38% |
KEYS | 23.3B | 5.6B | 2.28% | -19.41% | 20.64 | 4.17 | 6.17% | 2.08% |
JBL | 13.8B | 35.3B | 4.34% | 81.92% | 14.15 | 0.39 | 10.73% | 14.25% |
ZBRA | - | 5.5B | -11.85% | -17.44% | - | - | -5.22% | 30.78% |
| MID-CAP | ||||||||
FLEX | 11.6B | 30.3B | -0.73% | 42.86% | 14.66 | 0.38 | 12.16% | -14.13% |
DLB | 7.8B | 1.3B | -4.46% | 13.68% | 35.71 | 6.08 | 2.12% | 9.33% |
CGNX | 7.4B | 892.7M | -7.02% | -2.57% | 43.19 | 8.34 | -17.80% | -33.36% |
IPGP | 4.7B | 1.4B | 0.10% | 12.57% | 44.4 | 3.43 | -8.11% | -60.37% |
SANM | 3.1B | 9.1B | -2.93% | 11.71% | 9.96 | 0.34 | 24.00% | 28.81% |
PLXS | 2.5B | 4.3B | -6.77% | 0.48% | 16.72 | 0.58 | 22.08% | 23.25% |
| SMALL-CAP | ||||||||
OSIS | 1.9B | 1.3B | -1.49% | 46.65% | 21.17 | 1.52 | 8.04% | -20.43% |
BHE | 842.9M | 3.0B | -5.96% | -7.84% | 12.69 | 0.29 | 14.83% | 36.44% |
KE | 683.9M | 1.8B | -1.50% | 45.35% | 12.25 | 0.38 | 35.12% | 78.64% |
LASR | 482.2M | 224.2M | -3.98% | -0.96% | -9.24 | 2.15 | -15.40% | -50.79% |
IPG Photonics News
Returns for IPGP
Cumulative Returns on IPGP
5.5%
10-Year Cumulative Returns
2.9%
7-Year Cumulative Returns
-10.1%
5-Year Cumulative Returns
-16.0%
3-Year Cumulative Returns
Risks for IPGP
What is the probability of a big loss on IPGP?
95%
Probability that IPG Photonics stock will be more than 20% underwater in next one year
72.3%
Probability that IPG Photonics stock will be more than 30% underwater in next one year.
37.3%
Probability that IPG Photonics stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does IPGP drawdown profile look like?
Y-axis is the maximum loss one would have experienced if IPG Photonics was unfortunately bought at previous high price.
Drawdowns
Financials for IPG Photonics
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | -2.6% | 1,370 | 1,407 | 1,430 | 1,460 | 1,491 | 1,485 | 1,461 | 1,433 | 1,372 | 1,297 | 1,201 | 1,171 | 1,181 | 1,249 | 1,315 | 1,338 | 1,365 | 1,415 | 1,460 | 1,491 | 1,527 |
| Cost Of Revenue | -1.4% | 864 | 876 | 874 | 800 | 795 | 781 | 764 | 756 | 728 | 697 | 662 | 654 | 665 | 689 | 708 | 689 | 674 | 669 | 660 | 649 | 655 |
| Gross Profit | -4.6% | 506 | 531 | 555 | 661 | 696 | 704 | 696 | 677 | 644 | 600 | 539 | 516 | 516 | 560 | 606 | 649 | 691 | 746 | 800 | 842 | 872 |
| Operating Expenses | -6.6% | 354 | 379 | 386 | 318 | 344 | 332 | 329 | 329 | 356 | 357 | 340 | 383 | 350 | 350 | 372 | 319 | 312 | 295 | 277 | 267 | 260 |
| S&GA Expenses | 1.5% | 79.00 | 77.00 | 77.00 | 78.00 | 79.00 | 80.00 | 78.00 | 76.00 | 73.00 | 71.00 | 71.00 | 72.00 | 74.00 | 77.00 | 78.00 | 75.00 | 70.00 | 64.00 | 58.00 | 55.00 | 55.00 |
| R&D Expenses | -6.7% | 98.00 | 105 | 116 | 126 | 135 | 140 | 140 | 135 | 132 | 128 | 127 | 126 | 126 | 129 | 130 | 131 | 130 | 127 | 123 | 118 | 112 |
| EBITDA | -100.0% | - | 262 | 277 | 446 | 451 | 470 | 466 | 446 | 386 | 343 | 302 | 241 | 277 | 324 | 347 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.19* | 0.19* | 0.31* | 0.30* | 0.32* | 0.32* | 0.31* | 0.28* | 0.26* | 0.25* | 0.21* | 0.23* | 0.26* | 0.26* | - | - | - | - | - | - |
| Interest Expenses | -11.1% | 3.00 | 3.00 | 3.00 | 4.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 | 2.00 | 3.00 | 3.00 | 2.00 | 3.00 | 2.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| Earnings Before Taxes | 4.7% | 182 | 174 | 183 | 348 | 352 | 371 | 366 | 348 | 289 | 246 | 206 | 143 | 178 | 224 | 248 | 346 | 397 | 465 | 534 | 582 | 614 |
| EBT Margin | -100.0% | - | 0.12* | 0.13* | 0.24* | 0.24* | 0.25* | 0.25* | 0.24* | 0.21* | 0.19* | 0.17* | 0.12* | 0.15* | 0.18* | 0.19* | - | - | - | - | - | - |
| Net Income | 5.3% | 106 | 100 | 110 | 268 | 267 | 280 | 278 | 263 | 223 | 191 | 160 | 106 | 127 | 161 | 180 | 260 | 304 | 353 | 404 | 381 | 397 |
| Net Income Margin | -100.0% | - | 0.07* | 0.08* | 0.18* | 0.18* | 0.19* | 0.19* | 0.18* | 0.16* | 0.15* | 0.13* | 0.09* | 0.11* | 0.13* | 0.14* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 115 | 103 | 142 | 153 | 198 | 267 | 271 | 254 | 219 | 198 | 242 | 268 | 218 | 190 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 0.9% | 2,696 | 2,671 | 2,743 | 2,963 | 3,049 | 3,098 | 3,171 | 3,144 | 3,087 | 2,983 | 2,936 | 2,795 | 2,759 | 2,680 | 2,730 | 2,731 | 2,737 | 2,629 | 2,574 | 2,562 | 2,530 |
| Current Assets | 0.4% | 1,924 | 1,916 | 1,986 | 2,119 | 2,171 | 2,283 | 2,348 | 2,325 | 2,291 | 2,202 | 2,148 | 2,032 | 1,951 | 1,875 | 1,897 | 1,866 | 1,863 | 1,792 | 1,805 | 1,882 | 1,836 |
| Cash Equivalents | 10.0% | 573 | 521 | 698 | 869 | 772 | 643 | 709 | 795 | 754 | 897 | 879 | 764 | 748 | 570 | 683 | 580 | 530 | 549 | 544 | 648 | 817 |
| Inventory | -2.9% | 491 | 506 | 509 | 556 | 557 | 485 | 461 | 435 | 405 | 368 | 365 | 370 | 367 | 363 | 381 | 417 | 426 | 418 | 404 | 397 | 376 |
| Net PPE | 2.5% | 609 | 594 | 581 | 662 | 680 | 625 | 635 | 625 | 612 | 601 | 598 | 576 | 586 | 581 | 601 | 596 | 601 | 571 | 543 | 529 | 515 |
| Goodwill | 0.3% | 38.00 | 38.00 | 38.00 | 38.00 | 39.00 | 40.00 | 39.00 | 39.00 | 39.00 | 39.00 | 41.00 | 38.00 | 82.00 | 82.00 | 82.00 | 110 | 111 | 110 | 101 | 57.00 | 4.00 |
| Liabilities | -10.5% | 298 | 333 | 358 | 382 | 408 | 390 | 423 | 404 | 380 | 342 | 342 | 324 | 321 | 324 | 328 | 350 | 370 | 360 | 368 | 355 | 358 |
| Current Liabilities | -8.6% | 228 | 250 | 275 | 296 | 316 | 280 | 313 | 293 | 256 | 215 | 215 | 201 | 195 | 195 | 192 | 206 | 222 | 210 | 246 | 218 | 210 |
| LT Debt, Current | -100.0% | - | 16.00 | 16.00 | 16.00 | 32.00 | 17.00 | 18.00 | 19.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 |
| LT Debt, Non Current | - | - | - | - | - | - | 16.00 | 16.00 | 16.00 | 32.00 | 33.00 | 34.00 | 35.00 | 36.00 | 37.00 | 38.00 | 39.00 | 40.00 | 41.00 | 42.00 | 43.00 | 44.00 |
| Shareholder's Equity | 2.6% | 2,399 | 2,339 | 2,385 | 2,581 | 2,640 | 2,708 | 2,747 | 2,740 | 2,706 | 2,641 | 2,594 | 2,471 | 2,437 | 2,356 | 2,402 | 2,381 | 2,367 | 2,268 | 2,206 | 2,207 | 2,172 |
| Retained Earnings | 2.4% | 2,699 | 2,637 | 2,577 | 2,669 | 2,593 | 2,536 | 2,467 | 2,402 | 2,326 | 2,256 | 2,188 | 2,139 | 2,103 | 2,065 | 2,029 | 2,033 | 1,976 | 1,904 | 1,849 | 1,773 | 1,672 |
| Additional Paid-In Capital | 1.3% | 970 | 957 | 951 | 939 | 931 | 918 | 908 | 894 | 884 | 868 | 854 | 829 | 812 | 789 | 786 | 772 | 762 | 747 | 745 | 738 | 729 |
| Shares Outstanding | 0.1% | 47.00 | 47.00 | 48.00 | 49.00 | 52.00 | 53.00 | 53.00 | 53.00 | 53.00 | 54.00 | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 53.00 | 54.00 | 54.00 |
| Minority Interest | - | - | - | - | - | 1.00 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | - |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -5.2% | 221 | 234 | 213 | 256 | 282 | 319 | 390 | 390 | 358 | 316 | 285 | 330 | 352 | 337 | 324 | 307 | 287 | 337 | 393 | 389 | 481 |
| Share Based Compensation | -2.0% | 37.00 | 38.00 | 38.00 | 39.00 | 40.00 | 39.00 | 38.00 | 38.00 | 36.00 | 36.00 | 35.00 | 34.00 | 34.00 | 34.00 | 33.00 | 32.00 | 31.00 | 30.00 | 28.00 | 27.00 | 26.00 |
| Cashflow From Investing | -137.2% | -73.81 | 198 | 297 | 296 | 148 | -353 | -416 | -308 | -348 | -20.51 | -99.57 | -124 | -68.92 | -256 | -139 | -257 | -440 | -546 | -563 | -494 | -443 |
| Cashflow From Financing | 39.6% | -332 | -551 | -514 | -453 | -400 | -203 | -125 | -56.63 | -22.29 | 9.00 | -10.08 | -35.61 | -56.39 | -50.80 | -37.07 | -91.54 | -128 | -155 | -166 | -110 | -20.18 |
| Buy Backs | -43.6% | 301 | 534 | 500 | 440 | 405 | 211 | 135 | 78.00 | 51.00 | 28.00 | 38.00 | 53.00 | 67.00 | 53.00 | 41.00 | 90.00 | 127 | 156 | 176 | 125 | 67.00 |
IPGP Income Statement
2023-06-30Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Income Statement [Abstract] | ||||
| Net sales | $ 339,971 | $ 377,023 | $ 687,145 | $ 747,002 |
| Cost of sales | 192,280 | 204,679 | 392,516 | 402,837 |
| Gross profit | 147,691 | 172,344 | 294,629 | 344,165 |
| Operating expenses: | ||||
| Sales and marketing | 20,187 | 19,010 | 41,275 | 39,384 |
| Research and development | 23,512 | 30,608 | 46,282 | 64,058 |
| General and administrative | 29,660 | 33,411 | 59,788 | 64,075 |
| Other restructuring charges | 963 | 0 | 1,144 | 0 |
| Loss (gain) on foreign exchange | 1,306 | 17,640 | (1,349) | 11,830 |
| Total operating expenses | 75,628 | 100,669 | 147,140 | 179,347 |
| Operating income | 72,063 | 71,675 | 147,489 | 164,818 |
| Other income, net: | ||||
| Interest income, net | 9,264 | 1,177 | 16,797 | 1,107 |
| Other income, net | 285 | 618 | 616 | 382 |
| Total other income | 9,549 | 1,795 | 17,413 | 1,489 |
| Income before provision for income taxes | 81,612 | 73,470 | 164,902 | 166,307 |
| Provision for income taxes | 19,291 | 16,139 | 42,446 | 39,348 |
| Net income | 62,321 | 57,331 | 122,456 | 126,959 |
| Less: net income attributable to non-controlling interests | 0 | 363 | 0 | 419 |
| Net income attributable to IPG Photonics Corporation common stockholders | $ 62,321 | $ 56,968 | $ 122,456 | $ 126,540 |
| Net income attributable to IPG Photonics Corporation per common share: | ||||
| Basic (in dollars per share) | $ 1.32 | $ 1.10 | $ 2.58 | $ 2.42 |
| Diluted (in dollars per share) | $ 1.31 | $ 1.10 | $ 2.57 | $ 2.41 |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 47,316,342 | 51,687,494 | 47,428,639 | 52,111,167 |
| Diluted (in shares) | 47,453,260 | 51,794,948 | 47,618,162 | 52,310,541 |
IPGP Balance Sheet
2023-06-30Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 573,071 | $ 698,209 |
| Short-term investments | 523,341 | 479,374 |
| Accounts receivable, net | 231,125 | 211,347 |
| Inventories | 491,301 | 509,363 |
| Prepaid income taxes | 50,748 | 40,934 |
| Prepaid expenses and other current assets | 54,482 | 47,047 |
| Total current assets | 1,924,068 | 1,986,274 |
| Deferred income taxes, net | 69,644 | 75,152 |
| Goodwill | 38,494 | 38,325 |
| Intangible assets, net | 30,086 | 34,120 |
| Property, plant and equipment, net | 609,344 | 580,561 |
| Other assets | 24,781 | 28,848 |
| Total assets | 2,696,417 | 2,743,280 |
| Current liabilities: | ||
| Current portion of long-term debt | 0 | (16,031) |
| Accounts payable | 37,418 | 46,233 |
| Accrued expenses and other current liabilities | 184,156 | 202,764 |
| Income taxes payable | 6,613 | 9,618 |
| Total current liabilities | 228,187 | 274,646 |
| Other long-term liabilities and deferred income taxes | 69,680 | 83,274 |
| Total liabilities | 297,867 | 357,920 |
| Commitments and contingencies (Note 11) | ||
| IPG Photonics Corporation equity: | ||
| Common stock, $0.0001 par value, 175,000,000 shares authorized; 56,242,504 and 47,364,320 shares issued and outstanding, respectively, at June 30, 2023; 56,017,672 and 48,138,257 shares issued and outstanding, respectively, at December 31, 2022. | 6 | 6 |
| Treasury stock, at cost, 8,878,184 and 7,879,415 shares held at June 30, 2023 and December 31, 2022, respectively. | (1,051,040) | (938,009) |
| Additional paid-in capital | 969,889 | 951,371 |
| Retained earnings | 2,698,972 | 2,576,516 |
| Accumulated other comprehensive loss | (219,277) | (204,524) |
| Total equity | 2,398,550 | 2,385,360 |
| Total liabilities and equity | $ 2,696,417 | $ 2,743,280 |
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. The company's 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. It also provides erbium-doped fiber and Raman amplifiers, and integrated communications systems, which are deployed in broadband networks; and ytterbium and thulium specialty fiber amplifiers and broadband light sources. In addition, the company offers integrated laser systems; 2D compact flat sheet cutter systems and multi-axis systems; welding seam stepper and picker, a fiber laser welding tool; high precision laser systems; specialized fiber laser systems; and optical transceiver and transponder modules for interconnecting electronic equipment, including Ethernet switches, IP routers and DWDM/SONET/SDH optical transport modules within telecommunications, cable multi-system operators, and data center networking applications. It's lasers and amplifiers are also used in materials processing, communications, and medical and advanced applications. The company markets its products to original equipment manufacturers, system integrators, and end users through direct sales force, as well as through agreements with independent sales representatives and distributors. IPG Photonics Corporation was founded in 1990 and is headquartered in Oxford, Massachusetts.