New York, February 18, 2026, 09:50 EST — Regular session
- IPG Photonics shares slid again in early trading, adding to the sharp selloff from the previous day.
- Bernstein bumped its price target up to $162, pointing to a cyclical recovery as the driver.
- Fed minutes land later Wednesday, with IPG also on tap for its March 2 investor conference slot.
Shares of IPG Photonics Corp slid 1.4% to $133.01 during Wednesday morning trading, with the stock touching $131.21 at its session low.
The stock slid 12.38% Tuesday, finishing at $134.86. Trading topped 1.5 million shares, far surpassing its 50-day average. Shares wrapped up 13.45% below the 52-week peak of $155.82 from Feb. 13. The S&P 500 and Dow both managed small gains that session. (MarketWatch)
The dip follows last week’s earnings from the Marlborough, Massachusetts-based laser maker, which posted fourth-quarter revenue of $274.5 million, a 17% increase from the prior year. Adjusted earnings landed at $0.46 a share — that figure excludes certain items IPG doesn’t count as part of its normal operations. Gross margin took a hit from tariffs and the company’s inventory management approach. Still, the board signed off on a share buyback of up to $100 million. CEO Mark Gitin pointed out that the book-to-bill ratio for the quarter was “firmly above one.” For the first quarter, the company’s guidance calls for revenue between $235 million and $265 million. (IPG Photonics Investor Relations)
Bernstein boosted its price target to $162, up from $100, on Tuesday, maintaining its Outperform rating. The firm described the latest results as an “acceleration in a cyclical recovery.” Analyst Jay Huang cited stronger market conditions and wider product reach, but also noted the cost of integrating CleanLASER and a valuation above 200 times trailing earnings. (Investing)
IPG moved lower, but elsewhere in lasers and photonics, stocks caught a bid. Coherent climbed roughly 2.9%, Lumentum picked up 0.6%, and nLight was up 1.7% early on.
When the book-to-bill ratio tops one, it signals orders are outpacing shipments—often a good sign for future revenue. Investors are searching for evidence that factory spending is actually increasing, rather than just moving from one quarter to the next.
Still, margins remain the focus in the short run. Should tariffs tighten or buyers push back orders, the company could be left holding pricier inventory and higher costs—despite what the demand figures might suggest.
Elsewhere, eyes are on the Federal Reserve’s meeting minutes, set for release at 2 p.m. EST, as investors look for signals on interest rate direction—key for appetite in growth stocks. (Federal Reserve)
IPG’s next update comes March 2, as the company heads to Orlando to present at Raymond James’ Institutional Investors Conference. (IPG Photonics Investor Relations)
