On August 18, Coherent declined 7.14% in regular trading, trading at 325.1 USD/share, with turnover of $269 million. The stock faced heavy profit-taking pressure following consecutive sessions of substantial gains driven by strong Q4 earnings and concentrated Wall Street price target upgrades.

Coherent had rallied over 7% in the prior regular session and continued climbing in subsequent sessions, accumulating significant short-term gains. The Q4 fiscal report showed revenue of $2.05 billion, up 34% year-over-year, with adjusted EPS of $1.74, up 74%, both exceeding consensus. JPMorgan raised its target to $435, Jefferies and Needham to $420, and Morgan Stanley to $375. However, with expectations largely priced in, sellers dominated.

At the sector level, optical communications stocks retreated broadly, with Fabrinet falling over 8%, Corning dropping over 5%, and Applied Optoelectronics declining over 3%. Despite the company announcing customer sampling of 300mm high thermal conductivity silicon carbide substrates for AI chip cooling on the same day, accumulated gains and sector-wide rotation intensified near-term selling pressure.

(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.)