LPKF Laser Balances Production Showcase with Market Turbulence as Orders Rebound but Solar Disappoints

LPKF showcases laser depaneling tech as orders jump 18% to €24.1M, but solar drag and a global tech selloff pull shares 12% off peak ahead of half-year results.

Garbsen played host to LPKF Laser & Electronics’ “Depaneling Day 2026” on Wednesday — a customer event designed to show off the company’s laser-based circuit-board separation technology. The timing could hardly be more symbolic: while engineers demonstrated the LPKF Cutting Master in live workshops and factory tours, the stock was suffering its worst session in months, caught in a global technology rout that wiped 6.34% from the share price the day before.

The event underscores a strategic pivot at LPKF. Laser depaneling, which uses a precision beam instead of mechanical saws to separate printed circuit boards, promises cleaner cuts, less material waste and reduced cleaning costs. It is not a blockbuster order or a revenue forecast — but it signals that management is actively courting electronics customers at a moment when the order book is finally filling up again.

Order momentum vs. solar drag

First-quarter figures released earlier this year tell the story of a company in transition. Orders surged to €24.1 million from €20.5 million a year earlier, pushing the book-to-bill ratio to an impressive 1.4 — for every euro of revenue, €1.40 in new business came in. Yet revenue actually fell to €17.1 million from €25.3 million, dragged down by a persistently weak solar business. The EBIT loss widened to €6.9 million from €3.9 million.

The Depaneling Day fits neatly into this picture. LPKF is doubling down on electronics manufacturing just as its solar arm continues to weigh on the top line. The next big test comes on 23 July, when the half-year report is due. Investors will be watching closely to see whether the rising order intake has started to translate into higher sales — and whether solar has stabilised or deteriorated further.

A rally interrupted

The stock’s trajectory over the past seven months has been extraordinary. From a 52-week low of €5.34 in December 2025, the shares rocketed more than 340% to touch an intraday high of €30.20 on 22 June. That left the annualised 30-day volatility at 133% — a measure of just how violent the moves have been.

Then Tuesday’s tech selloff hit. The catalyst came from Asia, where South Korea’s Kospi index collapsed by 10%, forcing a temporary trading halt in Seoul. Analysts called it a warning shot for the global semiconductor industry. Adding to the jitters, reports of a multibillion-dollar bond issue sent SpaceX stock plunging, while US markets fretted over the prospect of a 50-basis-point rate hike from the Federal Reserve by year-end.

LPKF’s shares closed Tuesday at €26.60, and by Wednesday had edged a little lower to €26.50 — roughly 12% below the recent peak. The relative strength index, which had been flashing overbought signals, has now moderated to 58.8, back in neutral territory. Technicians note that the stock remains well above its 50-day moving average of €21.12, a level that has provided support throughout the rally. As long as that holds, the retreat looks like healthy profit-taking rather than a trend reversal.

The next move for LPKF — both on the factory floor and in the trading pit — will depend on whether the operational story can catch up with the share price. July’s half-year numbers will be the first real proof point.