IPGP
IPG Photonics Corp
Industrial/Transportation
06/25/2015
Presented
| Date | 06/22/2015 |
| Price | $93.31 |
| Market Cap | N/A |
| Ent Value | $4.40B |
| P/E Ratio | 22.8x |
| Book Value | $20.50 |
| Div Yield | N/A |
| Shares O/S | 52.63M |
| Ave Daily Vol | 370,000 |
| Short Int | 9.74% |
Current
| Price | $75.14 |
| Market Cap | $3.32B |
| IPG Photonics Corporation develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications, primarily in materials processing worldwide. The company's laser products include low, medium, and high output power lasers; 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; laser diode chips and packaged laser diodes; 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, such as fiber to the home, fiber to the curb, passive optical networks, and dense wavelength division multiplexing networks; ytterbium and thulium specialty fiber amplifiers and broadband light sources; and single-frequency, linearly polarized, and polarization-maintaining versions of its amplifier products. In addition, the company offers integrated laser systems, industrial grade UV excimer, and diode pumped solid state and picosecond laser micromachining systems; specialized fiber laser systems for material processing applications; and welding seam stepper and picker, a fiber laser welding tool for use in automotive assembly, appliances, rail cars, and other sheet metal fabrication. Its lasers and amplifiers are also used in advanced, communications, and medical 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. |
Public companies mentioned in the summary notes: IPG Photonics Corporation (IPGP), Rofin Sinar (RSTI) and JDS Uniphase (JDSU).
Highlights
IPG Photonics was first to market with fiber lasers, which are far more energy efficient and precise than conventional, less powerful carbon dioxide lasers. Fiber lasers eventually started to gain traction in various precision welding and metal cutting applications, with IPGP enjoying monopoly status in 1 kW or less lasers for a period of time until the market finally caught up. The company then went on to dominate in 2 kW or less lasers before competitors once again caught up, resulting in market share declines from near 100% to around 30 percent. With IPGP now enjoying monopoly status in the 3-10 kW fiber laser market, the presenter is betting that competitors will once again make up ground - particularly with larger players now entering the market. With competition heating up dramatically and the market not expanding as fast as it once was, he believes the scenario sets up well for a short.
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.
◆Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.