Movement Alert｜Coherent Rises 6.27% in Regular Trading, Rebound After Pullback Supported by Target Price Upgrade and Supply Agreement

Market Focus07-09

On July 9, Coherent rose 6.27% in regular trading, trading at 334.39 USD/share, with turnover of $181 million. The stock had previously pulled back consecutively since July 7, dipping to around $304.3 intraday, accumulating a decline of over 10%.

On the news front, AXT subsidiary Beijing Tongmei and Coherent signed a three-year master development and supply agreement for 6-inch indium phosphide wafers on June 25, with prepayments exceeding $22 million to secure critical material capacity. Additionally, Raymond James raised its target price on Coherent from $371 to $435, implying significant upside from current levels. The agreement, disclosed via SEC filings, establishes a long-term cooperation framework covering capacity allocation and product roadmap arrangements.

Within the Electronic Components sector where Coherent belongs, the overall sector showed broad strength. Among individual stocks, Corning up 7.82%, Vishay Intertechnology up 7.42%, Littelfuse up 3.82%, Amphenol up 2.1%, Amplitech Group Inc. down 2.13%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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