LPKF Laser: Glass Substrate Orders and SDAX Elevation Converge as Stock Rally Continues
Published on 06/17/2026 at 17:33 | Redaktion boerse-global.de
A technological breakthrough in chip packaging and an impending index promotion are pulling LPKF Laser & Electronics in two powerful directions at once. The company’s LIDE (Laser-Induced Deep Etching) process, which drills micron-precise holes in thick glass substrates, has moved out of the test lab and into commercial production. Within days, the stock surged more than 15% to €25.80, extending a year-to-date gain of roughly 329%.
The glass substrates — up to two millimetres thick — address a persistent problem in high-performance processors for data centres and AI workloads. Conventional fabrication methods frequently caused cracks in the material. LPKF’s LIDE technology bores contact holes with a precision of under ten micrometres, a critical requirement as chip giants like TSMC and Intel begin integrating glass cores into their chip packages. Glass conducts heat better than silicon and provides greater dimensional stability on large surfaces.
TSMC plans to start mass production of chips using these glass interposers in 2028. LPKF has already expanded its production capacity to meet expected demand. First sample substrates have been delivered to customers for validation, and at this month’s GFAB conference in Chicago, the company is showcasing the technology to a broad industry audience.
Should investors sell immediately? Or is it worth buying LPKF Laser?
The commercial traction goes beyond prototypes. In the first quarter of 2026, LPKF booked its first order for a production-scale capacity expansion system, and management says it is in talks for additional units. The broader ramp-up of glass-substrate mass production is anticipated from 2027 onwards.
Financially, the picture is mixed. Revenue for Q1 2026 fell to €17.1 million from €25.3 million a year earlier, primarily due to a weak solar business. The operating result came in at minus €6.9 million. But the order intake painted a much healthier picture: it rose to €24.1 million, producing a book-to-bill ratio of 1.4 — meaning new orders comfortably exceeded invoiced revenue. That ratio signals growth ahead. For the full year 2026, LPKF confirms its forecast of revenue between €105 million and €120 million, with an adjusted EBIT margin ranging from minus 3.0% to plus 4.5%. Potential large-scale semiconductor orders are deliberately excluded from that guidance. Meanwhile, restructuring costs under the “North Star” programme are expected to consume roughly 3% to 4% of revenue.
Investors have piled in. The stock’s 15.18% jump to €25.80 represents one of the strongest single-day moves since the rally began. Even before that spike, the shares had more than quadrupled from around €5 at the end of 2025. Annualised volatility stands at 146% (primary article) or roughly 140% (secondary article) — both figures point to extreme sensitivity to news flow. The relative strength index (RSI) of 60 suggests the uptrend remains intact without being overbought. The stock is about 19% above its 50-day moving average of €19.53 and still around 22% below its 52-week high of €30.00.
A structural catalyst arrives on 22 June, when LPKF will be promoted to the SDAX index. That forces index-tracking funds to buy the stock, adding a mechanical boost to demand. The move comes as the company’s internal transformation programme, also running until 2028, targets a sustainable double-digit profit margin. Whether the stock can close the gap to its high-water mark depends crucially on how quickly customers complete qualification processes for downstream manufacturing steps — only then can volume orders follow and turn prototype enthusiasm into recurring revenue.
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LPKF Laser Stock: New Analysis - 17 June
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