2023-10-13 06:03:00 ET
Last July, II?VI Inc. acquired Coherent (NYSE: COHR) and took over its name and ticker. The acquisition created a larger and more broadly diversified manufacturer of optical materials, lasers, and semiconductors, and it initially gained a lot of attention from the bulls with the growth potential of its AI-related equipment and silicon carbide businesses.
However, Coherent's stock plummeted in August after it followed up its fiscal fourth-quarter earnings beat with a softer-than-expected forecast for the first quarter of fiscal 2024 (which started on July 1). As a result, Coherent's stock remains nearly flat over the past 12 months.
Let's see where this divisive stock might be headed in a year.
For further details see:
Where Will Coherent Stock Be in 1 Year?