Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

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Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Cash-Heavy Stocks We Think Twice About

DOCU Cover Image

A surplus of cash can mean financial stability, but it can also indicate a reluctance (or inability) to invest in growth. Some of these companies also face challenges like stagnating revenue, declining market share, or limited scalability.

Not all businesses with cash are winners, and that’s why we built StockStory - to help you separate the good from the bad. Keeping that in mind, here are three companies with net cash positions that don’t make the cut and some better choices instead.

DocuSign (DOCU)

Net Cash Position: $815.8 million (5.6% of Market Cap)

Creating the digital equivalent of "sign on the dotted line" for over a billion users worldwide, DocuSign (NASDAQ: DOCU) provides an agreement management platform that enables businesses to electronically prepare, sign, and manage documents and contracts.

Why Does DOCU Worry Us?

  1. Annual revenue growth of 10.8% over the last three years was below our standards for the software sector
  2. Offerings struggled to generate meaningful interest as its average billings growth of 6.4% over the last year did not impress
  3. Estimated sales growth of 5.9% for the next 12 months implies demand will slow from its three-year trend

DocuSign’s stock price of $72.85 implies a valuation ratio of 4.8x forward price-to-sales. If you’re considering DOCU for your portfolio, see our FREE research report to learn more.

Plexus (PLXS)

Net Cash Position: $94.67 million (2.6% of Market Cap)

With over 20,000 team members across 26 global facilities, Plexus (NASDAQ: PLXS) designs, manufactures, and services complex electronic products for companies in aerospace/defense, healthcare, and industrial sectors.

Why Are We Wary of PLXS?

  1. Customers postponed purchases of its products and services this cycle as its revenue declined by 3.4% annually over the last two years
  2. Poor free cash flow margin of 2.7% for the last five years limits its freedom to invest in growth initiatives, execute share buybacks, or pay dividends
  3. Eroding returns on capital suggest its historical profit centers are aging

Plexus is trading at $136.56 per share, or 18.4x forward P/E. To fully understand why you should be careful with PLXS, check out our full research report (it’s free).

Crane (CR)

Net Cash Position: $285 million (2.5% of Market Cap)

Based in Connecticut, Crane (NYSE: CR) is a diversified manufacturer of engineered industrial products, including fluid handling, and aerospace technologies.

Why Do We Pass on CR?

  1. Products and services are facing significant end-market challenges during this cycle as sales have declined by 6.1% annually over the last five years
  2. Organic sales performance over the past two years indicates the company may need to make strategic adjustments or rely on M&A to catalyze faster growth
  3. Earnings per share fell by 6.7% annually over the last two years while its revenue grew, partly because it diluted shareholders

At $195.67 per share, Crane trades at 33.3x forward P/E. Check out our free in-depth research report to learn more about why CR doesn’t pass our bar.

High-Quality Stocks for All Market Conditions

Trump’s April 2025 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines.

Take advantage of the rebound by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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