Welcome to our dedicated page for Coherent news (Ticker: COHR), a resource for investors and traders seeking the latest updates and insights on Coherent stock.
Coherent Corp. (NYSE: COHR) is a global leader in materials, networking, and lasers, renowned for its innovative contributions across multiple industries. Headquartered in Saxonburg, Pennsylvania, Coherent specializes in engineered materials and optoelectronic components, serving sectors such as industrial, optical communications, military, semiconductor, consumer, and life sciences applications.
Coherent operates through two main segments: Photonic Solutions Segment and Compound Semiconductors Segment. The Photonic Solutions Segment leverages II-VI's compound semiconductor technology platforms to deliver components and subsystems, while the Compound Semiconductors Segment is noted for its market leadership in differentiated materials and devices.
Recent achievements include the demonstration of an 800 Gbps coherent transceiver module in QSFP-DD form factor, showcased at OFC 2024. This module features Coherent's 140 Gbaud IC-TROSA optical subassembly, offering high-efficiency indium phosphide modulators and proprietary embedded wavelength-tunable lasers, extending transmission distances up to 1000 km at 800 Gbps.
Additionally, Coherent has been pioneering advancements in VCSEL technology, enabling bandwidth improvements for next-generation optical interconnects. These developments are pivotal for data centers and AI networks, potentially achieving 200 Gbps per lane and optical transceivers with 1.6 Tbps capacity.
Coherent's commitment to innovation is further exemplified by its 6-inch indium phosphide wafer fabrication capability in its U.S. and European fabs, increasing production capacity and reducing die costs for InP optoelectronic devices used in a variety of applications from communications to advanced sensing.
In alignment with its ongoing innovation, Coherent has secured $15 million in funding from the CHIPS Act to accelerate the commercialization of wide- and ultrawide-bandgap semiconductors, enhancing the efficiency of electric vehicles, power grids, and data centers.
Financially, Coherent has demonstrated robust performance, with its Q3 FY2024 results available in a detailed shareholder letter on the Investor Relations section of its website. This format aims to provide greater insight into the company’s operations and future outlook.
For more information about Coherent and its groundbreaking technologies, visit coherent.com.
Coherent Corp. (Nasdaq: COHR) secured a DARPA contract to develop coherent optical transceiver technology for the Space-Based Adaptive Communications Node (Space-BACN) program. This initiative aims to establish low-cost, high-speed laser data links for communication between various LEO satellite constellations. Coherent will design and fabricate transceivers that support multiple optical waveforms at data rates up to 100 Gbps, while adhering to stringent size, weight, power, and cost constraints. This contract follows Coherent's successful participation in Phase 0 of the program.
Coherent, Inc. (NASDAQ: COHR) reported financial results for Q2 FY2022, with net sales of $370.2 million and a net income of $33.7 million, or $1.35 per diluted share. This marks a decline in sales from $374.0 million in Q2 FY2021, while net income rebounded from a loss of $158.2 million. Non-GAAP net income was $42.5 million, or $1.70 per diluted share, an increase from $35.2 million in Q2 FY2021. Coherent faced merger-related costs impacting past results but showed improvement in operating income amidst declining sales.
Coherent, Inc. (NASDAQ: COHR) reported Q1 fiscal 2022 results with net sales of $384.5 million and GAAP net income of $30.3 million ($1.21 per diluted share). Compared to Q1 fiscal 2021, net sales increased from $326.1 million, with net income significantly up from $0.1 million. Non-GAAP net income reached $57.7 million ($2.32 per diluted share), marking a 31% increase from the previous quarter. The company also noted a robust backlog and expects its merger with II-VI to finalize by mid-2022, pending approvals from South Korea and China.
Coherent, Inc. (COHR) reported Q4 fiscal 2021 results with net sales of $391.7 million, and a GAAP net income of $21.1 million or $0.85 per diluted share. This reflects a year-over-year sales increase of 23.6% from $316.8 million in Q4 FY20. For the fiscal year, net sales reached $1,487.5 million with a GAAP net loss of $106.8 million, improving from a loss of $414.1 million in FY20. Non-GAAP net income for FY21 was $150.8 million, or $6.10 per diluted share, up from $72.6 million.
Coherent, Inc. (NASDAQ: COHR) reported Q3 fiscal 2021 results showcasing net sales of $395.8 million, up from $298.3 million year-over-year. The company posted a GAAP net income of $30.3 million or $1.22 per diluted share, a substantial recovery from a net loss of $8.7 million in Q3 2020. Non-GAAP net income reached $44.9 million with an EPS of $1.81. Bookings and revenue continue to grow, driven by strength in MicroElectronics and Precision Manufacturing sectors. Coherent aims to finalize its acquisition with II-VI Incorporated by early 2022.
Coherent, Inc. (NASDAQ: COHR) reported its second fiscal quarter results for 2021, with net sales of $374 million, an increase from $293 million in Q2 2020. However, the company faced a net loss of $158.2 million or $6.49 per diluted share, largely due to $179.2 million in merger costs. Non-GAAP net income was $35.2 million or $1.42 per diluted share, a significant improvement from $14.8 million in Q2 2020. Coherent continues to see strong demand in precision manufacturing, particularly in EV battery welding applications.
Coherent, Inc. has accepted an acquisition proposal from II-VI Incorporated, deemed a "Company Superior Proposal" over Lumentum Holdings. Coherent's board evaluated both proposals and opted to terminate the merger agreement with Lumentum, incurring a $217.6 million termination fee. Under the new agreement with II-VI, each Coherent share will convert to $220 in cash and 0.91 shares of II-VI stock. The deal awaits stockholder and regulatory approval, with closing expected in Q4 2021.
Lumentum Holdings Inc. announced the termination of its merger agreement with Coherent, Inc., which requires Coherent to pay a $217.6 million termination fee. Coherent's Board opted for an inferior offer from II-VI Incorporated, whose proposal was valued at $281.21, compared to Lumentum's superior bid worth $283.12. Lumentum's offer included $230 in cash and stock, while II-VI's consisted of $220 in cash and shares. The news emphasizes Lumentum's commitment to pursuing strategic acquisitions amid competitive offers.
Lumentum Holdings has presented a revised acquisition proposal for Coherent involving $230.00 per share in cash and 0.6724 shares of Lumentum stock, totaling approximately $287.50 per Coherent share. The proposal remains open until March 24, 2021. Lumentum plans to finance the cash component through available cash, a new $3.25 billion debt facility, and a $1 billion equity investment from Silver Lake. The acquisition awaits stockholder and regulatory approvals, aiming for closure in H2 2021.
FAQ
What is the current stock price of Coherent (COHR)?
What is the market cap of Coherent (COHR)?
What does Coherent Corp. specialize in?
What are the main segments Coherent operates in?
What recent innovations has Coherent introduced?
What is the significance of Coherent's 6-inch indium phosphide wafer fabrication?
How much funding did Coherent secure from the CHIPS Act?
Where can I find Coherent's latest financial results?
What is the significance of Coherent's VCSEL technology development?
Who can I contact for more information about Coherent?
Where is Coherent Corp. headquartered?
What industries does Coherent serve?
