We demonstrate an optically pumped passively mode-locked external-cavity semiconductor laser generating 4.7-ps pulses at 957 nm with as much as 2.1 W of average output power and a 4-GHz repetition rate. Compared with earlier results, the chirp of the pulses has been greatly reduced by use of an intracavity etalon. Apart from restricting the bandwidth, the etalon also helps optimize wavelength-dependent gain parameters and dispersion.