Coherent Shares Trade Close to $378, With Next Test Set for Tuesday After Volatile AI-Optics Week
Coherent Corp. shares closed at $377.57 Friday, down 0.1% for the day and 1.3% below last week, underperforming the S&P 500 and Nasdaq ahead of the Memorial Day market closure. The company reported fiscal Q3 revenue of $1.81 billion, up 21% year-over-year, with strong demand in datacenter and communications. Nvidia invested $2 billion in March and signed a multi-year optics agreement. Coherent trades at 179 times trailing earnings.