BUZZ-Coherent shares fall after Monday's huge rally

Reuters06-05

** Shares in chipmaker Coherent Corp down 6.9% after adding 22.9% in the previous session following announcement it had hired Jim Anderson from Lattice Semiconductor as its new CEO

** COHR was leading declines in the Philadelphia Semiconductor index , which was down 1.4% on Tues

** "Its just profit taking after yesterday's sharp run up," said Mark Miller, Benchmark Research analyst who maintained his 'buy' rating on the stock and his $65 price target. Miller said that Anderson had a good record at Lattice.

** COHR last traded at $65.30 after closing at $70.10 on Monday. Median PT for the stock is $68, unchanged from a month ago as per LSEG, which shows 19 analysts covering the stock

** Lattice shares were down almost 2% on Tuesday, tracking for a fifth straight session of losses, including a 15.5% decline on Monday

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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