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, Inc. (NASDAQ: COHR) reported Q1 fiscal 2021 financial results with net sales of $326.1 million and a GAAP net income of $0.1 million ($0.01 per diluted share), down significantly from $5.8 million a year ago. Non-GAAP net income was $26.7 million ($1.09 per diluted share), an increase from $20.7 million last year. Although net sales slightly grew from $316.8 million in Q4 2020, the year-over-year GAAP income decline raises concerns. Strong bookings and improved margins were noted, particularly in microelectronics and aerospace sectors.
Coherent, Inc. (NASDAQ: COHR) announced it received an unsolicited acquisition proposal from MKS Instruments, Inc. (NASDAQ: MKSI) offering $115 in cash and 0.7473 of an MKS share per Coherent share. This proposal is subject to closing conditions such as antitrust approvals. On January 19, Coherent entered a merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE), offering $100 in cash and 1.1851 Lumentum shares per Coherent share. Coherent's board is evaluating the MKS proposal, recognizing it could be superior to Lumentum's offer but continues to recommend the Lumentum merger to shareholders.
Coherent (NASDAQ: COHR) announced its preliminary financial results for the fiscal first quarter ended January 2, 2021. The company reported revenue between $325 million and $327 million, with a GAAP gross profit of $119 million to $120.5 million, and a GAAP operating income ranging from $16.4 million to $17.6 million. Non-GAAP figures showed a gross profit of $128.1 million to $130 million and an operating income between $36.1 million and $37.9 million. Investors are advised to approach these preliminary estimates with caution.
Lumentum Holdings and Coherent have signed a definitive agreement for Lumentum to acquire Coherent in a cash and stock deal valued at $5.7 billion. Each Coherent shareholder will receive $100.00 in cash plus 1.1851 shares of Lumentum stock. Upon closing, Coherent shareholders will own 27% of the combined entity. This merger aims to enhance Lumentum's presence in the photonics market, estimated at over $10 billion, by merging operations and R&D capabilities across multiple industries, including telecommunications and aerospace.
Lumentum Holdings is set to acquire Coherent for $5.7 billion, offering Coherent shareholders $100 in cash and 1.1851 shares of Lumentum stock per share. This merger is expected to enhance Lumentum's market presence in the photonics industry, uniting capabilities in lasers, microelectronics, and aerospace sectors. The combined entity will target a $10 billion market outside traditional segments and is projected to generate over $150 million in synergies within 24 months, benefiting shareholders with accretive earnings in the first year post-merger.
Coherent, Inc. (COHR) reported its financial results for Q4 FY2020, with net sales of $316.8 million and a net income of $7.7 million or $0.32 per diluted share. This marks a decline from $335.5 million in net sales in Q4 FY2019. For the fiscal year, net sales totaled $1,229.0 million, down from $1,430.6 million, resulting in a significant GAAP net loss of $414.1 million. Non-GAAP net income for FY2020 was $72.6 million, or $3.00 per diluted share, highlighting a decrease from $143.8 million in the previous year.
Coherent (Nasdaq: COHR) has launched Amplify, a virtual conference series aimed at providing educational and networking opportunities in photonics technology. The inaugural event, scheduled for December 10, 2020, will focus on neuroscience and cell biology, featuring a keynote by Nobel laureate Eric Betzig. These half-day events will include presentations, discussions, and networking opportunities for researchers and industry professionals. Coherent emphasizes the importance of collaboration in scientific research and technology development, aiming to recreate the informal networking atmosphere of traditional conferences.
Coherent, Inc. (Nasdaq: COHR) announced plans to report its fourth quarter fiscal year 2020 results on November 10, 2020, after market close. The company will hold a conference call at 1:30 PM Pacific to discuss these results, accessible via their website. Coherent is a leader in lasers and laser-based technology for various sectors and is part of the Russell 1000 and S&P MidCap 400 Index. More details can be found on their official site.
Coherent, Inc. (Nasdaq: COHR) announced the retirement of CFO Kevin Palatnik, effective no later than February 28, 2021. The company commended Palatnik for his contributions to financial and operational improvements. A global search for his successor will commence immediately. Coherent is a leading provider of laser solutions and optics, servicing multiple industries including microelectronics and life sciences. It is part of the Russell 1000 and S&P MidCap 400 indices, reflecting its significant market presence.
Coherent, Inc. (NASDAQ: COHR) reported its third fiscal quarter results for 2020, with net sales of $298.3 million, down from $339.2 million year-over-year. The company recorded a GAAP net loss of $8.7 million or $0.36 per diluted share, a significant improvement from a loss of $418.9 million in the prior quarter. Non-GAAP net income stood at $12.6 million, or $0.52 per diluted share, compared to $32.1 million in Q3 2019. Despite COVID-19 impacts, revenue growth was noted in Microelectronics, which offset declines in other segments.
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