On July 23, Coherent rose 3.15% in regular trading, trading at $322.32/share, with turnover of $110 million. The optical communications sector continued its rebound, with peers Corning up 3.0% and Vishay Intertechnology up 3.1%.

On the news front, Coherent announced it will release its fiscal year Q4 earnings on August 12, with consensus EPS expectations at $1.43, up from the prior quarter's $1.21. The earnings date disclosure provided a near-term catalyst as the stock extends its oversold recovery. The stock had previously retreated over 21% from its July 10 high near the $332 area before entering a repair phase. BNP Paribas recently raised its price target on Coherent to $415 from $380, maintaining an Outperform rating, while the analyst consensus target stands at approximately $392.59. Additionally, the company secured a $50 million CHIPS Act subsidy to expand indium phosphide production capacity, with AI data center demand for high-speed optical connectivity continuing to support the sector's medium-term outlook.

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