On August 19, Coherent declined 3.36% overnight, trading at 296.19 USD/share, with turnover of 18.2796 million USD. The stock had already plunged over 12% in the prior regular session, with the current decline representing a continuation of profit-taking pressure.

The sell-off follows an extended rally fueled by a strong fiscal Q4 report and a wave of Wall Street target price upgrades. Coherent posted Q4 revenue of $2.05 billion, up 34% year-over-year, with adjusted EPS of $1.74, up 74%, both well above consensus. Q1 guidance midpoints of approximately $2.3 billion in revenue and $1.95 EPS exceeded expectations by roughly 7% and 10%, respectively. JPMorgan raised its target to $435, while Needham and Jefferies moved to $420.

At the sector level, the optical communication space has seen broad-based selling, with Fabrinet falling nearly 20% and Lumentum dropping over 9% in the prior session. Within the Electronic Components sector, Corning fell 2.35%, Amphenol declined 0.85%, and Vishay Intertechnology slipped 0.81%, reflecting continued sector-wide distribution.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)