Coherent Posts More Gains on Restructuring Plan
Market News

Coherent Posts More Gains on Restructuring Plan

Shares of semiconductor and photonic solutions provider Coherent Corp. (NYSE:COHR) are soaring higher at the time of writing today after the company announced that it anticipates $150 million to $200 million in charges related to its recently announced restructuring plan.

The company is looking to streamline its business and the restructuring move involves shuttering and relocation of some of its facilities as well as other cost optimization measures.

Coherent expects the restructuring exercise to conclude by the end of 2025. Separately, Coherent also introduced a 1 kW optical isolator today. The PAVOS kW Ultra is targeted for applications that involve high-energy ultrashort pulse (USP) lasers.

Overall, the Street has a $42.46 consensus price target on COHR alongside a Strong Buy consensus rating. Shares of the company have already surged nearly 20% over the past five sessions.

Read full Disclosure

Related Articles
TheFlyCoherent put volume heavy and directionally bearish
TheFlyCoherent price target raised to $108 from $90 at BofA
TheFlyMeta, Alphabet initiated: Wall Street’s top analyst calls
Go Ad-Free with Our App