IPG Photonics authorizes $200M stock purchase program

After completing in the quarter the $300 million share repurchase program announced in August 2022, the Board of Directors authorized a new program to purchase up to $200 million of IPG common stock. Share repurchases may be made periodically in open-market or other transactions, and are subject to market conditions, legal requirements and other factors. The share repurchase program authorization does not obligate the Company to repurchase any dollar amount or number of its shares, and repurchases may be commenced or suspended from time to time without prior notice. Since the beginning of 2022, IPG has repurchased over $600 million of its common stock.