LPKF Laser: Montega Sticks With Buy Rating Despite Slashed Guidance

LPKF shares slip 2.5% amid a sector-wide AI selloff, compounding its September 30 guidance cut and order delays ahead of its October 29 report.

LPKF Laser drew a 2.5% decline on Wednesday as a broad selloff swept through AI-related names, with reports of Huawei closing the gap on leading US and South Korean chipmakers weighing on the wider sector. Samsung and SK Hynix shares also came under pressure on that news. For LPKF, the sector-wide headwind lands on top of its own order delays — though the day's move reflects industry sentiment rather than any fresh operational disclosure from the company itself.

Guidance Cut Anchored in Timing, Not Lost Business

The central company-specific reference point remains the downgrade LPKF issued on September 30, when it trimmed its revenue forecast for fiscal 2026 to EUR 93–100 million. Management pointed to a delayed major solar order and postponed bookings in the advanced packaging market for semiconductors. Previously, the company had guided for EUR 105–120 million.

Profitability expectations moved in tandem. LPKF now projects an adjusted EBIT margin of ?7.0% to ?2.5%, a range that sits entirely in negative territory. The earlier outlook had left room for a positive adjusted operating result, at ?3.0% to +4.5%. Reuters reported that the stock fell sharply following the announcement.

How soon those expected orders actually materialize will shape the rest of the year. It is worth distinguishing postponed bookings from cancellations — the company's language points to timing, not lost business.

Montega's Optimistic Call Meets a Cautious Plan

Not everyone stepped away from the stock after the weaker outlook. On October 1, Montega reaffirmed its "Buy" rating with a price target of EUR 22.00, explicitly referencing the reduced guidance and the deferred solar and advanced packaging revenues. The move was a confirmation of the existing rating rather than a fresh recommendation.

That stance does not erase the risks embedded in the lowered plan. It signals instead that Montega weighs the delays differently from a permanent loss of the business in question. The prior day's session saw the shares shed 3.5%, showing the buy call did not shield the stock from further losses.

Insider Buying Adds a Second Counterweight

Signals also came from the boardroom. Peter Mümmler and Dr. Klaus Fiedler acquired company shares on September 30, with the transactions disclosed on October 1. The purchases sit alongside the cautious corporate plan, demonstrating personal commitment — but they do not substitute for operational proof that the delayed orders are being converted.

October 29 Report Looms as the Next Test

LPKF has scheduled publication of its nine-month financial report for October 29, 2026, at 08:00. That date offers the next concrete checkpoint for assessing business performance and the lowered full-year outlook together.

Order development will be the focal point for investors. The buy rating and insider purchases provide a counterweight to the softer guidance. What ultimately matters for the operational picture is how the deferrals flow through to revenue and earnings. The reduced forecast is a company statement; Montega's recommendation is an assessment. Only progress on the delayed business — and its contribution to results — will give the optimistic view firmer footing.