Coherent Option Alert: May 16 $70 Calls Sweep (8) near the Bid: 1496 vs 1600 OI

Coherent Option Alert: May 16 $70 Calls Sweep (8) near the Bid: 1496 @ $21.75 vs 1600 OI; Ref=$87.86

Coherent (NYSE:COHR) Azioni

Coherent

Coherent Corp engaged in materials, networking, and lasers, is a vertically integrated manufacturing company that develops, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers for use in the industrial, communications, electronics and instrumentation markets. The firm operates in three segments Networking, Materials, and Lasers Segment. It generates maximum revenue from Networking segment. The company geographically operates in North America. Europe, China, Japan and Rest of the world.

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Coherent Corp

JP Morgan analyst Samik Chatterjee maintains Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) with a Overweight and lowers the price target from $120 to $80.

News

Price Target

JP Morgan Maintains Overweight on Coherent, Lowers Price Target to $80

Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) tumbled more than 6% on Wednesday morning trading in New York after fresh U.S. export curbs on AI chips to China rattled the market, yet some Wall Street analysts see the pullback as <a href="https://www.benzinga.com/topic/expert-ideas">a rare buying opportunity.</a>
In a note shared Wednesday, Bank of America analyst Vivek Arya said the latest H20 chip restrictions to China, while unwelcome, were largely anticipated and pose only a "manageable risk" to Nvidia's sales outlook.
The investment bank reiterated a bullish stance on Nvidia, maintaining a Buy rating and a $160 price target, which implies a 42.6% upside from Tuesday's $112.20 close.
Despite a looming $5.5 billion charge and tighter U.S. export rules, Arya believes the company's deep AI moat and new product cycle could more than offset short-term pain.
<h3 class="wp-block-heading">Why Is Nvidia Taking A $5.5 Billion Hit?</h3>
Nvidia disclosed after the close on Tuesday that it will record a $5.5 billion first-quarter charge related to inventory, purchase commitments and reserves following a new U.S. government requirement. 
The policy mandates a license to ship H20 and equivalent AI chips to China and arms-embargoed countries.
The H20 chip, a specialized version of Nvidia's powerful AI hardware tailored to bypass earlier export rules, had emerged as a critical part of its China sales strategy. Yet, with the Trump administration tightening loopholes, those sales are in jeopardy.
Arya said the charge likely reflects "a high probability of H20 restriction" and a "low probability of future licenses," suggesting Nvidia has priced in the worst-case scenario.
<h3 class="wp-block-heading">How Much Could Nvidia Lose?</h3>
Bank of America estimates the H20 ban could lead to a manageable 5%-8% drop in sales and a 6%-10% hit to pro-forma earnings per share in fiscal year 2026 (calendar 2025). 
That's based on assumptions that H20 sales make up about 6%-10% of Nvidia's China revenue, which itself accounts for roughly 14% of total company sales.
Nvidia hasn't disclosed exact figures for H20, but Arya's model projects around $12 billion in sales from the chip for fiscal 2026—well above the $8 billion consensus from data platform Visible Alpha.
While the revenue loss is significant, Arya flagged positive offsets, including accelerating U.S. AI chip demand and strong pricing for Nvidia's next-generation GB300 Blackwell Ultra chips, which are expected to launch in the second half of 2025.
<h3 class="wp-block-heading">Is The Stock Undervalued?</h3>
Despite mounting geopolitical risks, Nvidia shares have already begun to price in much of the damage. According to Arya, the stock now trades at around 20 times expected 2025 earnings, down from its historical trough of 23-25 times.
He said that implies investors are now forecasting earnings of about $4 per share, well below the consensus estimate of $4.50 to $5. Arya argues this disconnect offers a compelling entry point, especially as AI chip demand from firms like OpenAI, Google, and Amazon remains robust.
"The global demand for leading-edge AI and Nvidia's unmatched platform leadership can continue to offset regional headwinds," Arya said.
<h3 class="wp-block-heading">What About Other Chipmakers?</h3>
The new rules won't just hit Nvidia. Arya said the increased AI export restrictions are likely to weigh on other semiconductor stocks with AI exposure, including Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), Coherent Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NASDAQ">COHR</a>) and Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>).
Washington may continue ratcheting up restrictions beyond China, and further controls could extend to semiconductor manufacturing equipment and design software, areas where the U.S. holds significant leverage.
Yet, despite the U.S.-China tech decoupling may be accelerating, Arya indicates the longer-term AI trend remains intact. 
"We believe AI remains the fastest growing secular growth opportunity in semis," he said, adding that recent volatility in Nvidia stock offers an &#8220;enhanced buying opportunity&#8221; rather than a reason to panic. 
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Econ #s

AVGO

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MRVL

Nvidia H20 Chip Ban Could Lead To 'Manageable' Sales Drop, Bank Of America Says

Citigroup analyst Atif Malik maintains Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) with a Buy and lowers the price target from $136 to $110.

Citigroup Maintains Buy on Coherent, Lowers Price Target to $110

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Shares of technology stocks are trading lower amid an overall market reversal following Wednesday's surge.

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Shares of electronics and communication equipment stocks are trading lower amid overall tech weakness as stocks pull back after surging Wednesday following President Trump's tariff pause announcement.

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Shares of companies in the broader technology sector are trading higher after President Trump issued a 90-day pause on reciprocal tariffs for all countries except China, which is restoring investor confidence.

BofA Securities analyst Vivek Arya met several <a target="_blank" href="https://www.benzinga.com/topic/semiconductors" rel="noreferrer noopener">optical and networking component</a> vendors at the industry&#8217;s flagship Optical Fiber Communications (OFC) conference in San Francisco this week.&nbsp;
This year&#8217;s OFC seemed extra relevant due to the increasing importance of optical innovations in enabling higher-speed AI clusters.&nbsp;
Historically, high competition and pricing pressures have hurt the optical industry.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44517705/marvell-launches-next-gen-connectivity-to-meet-rising-ai-demands-in-data-infrastructure" rel="noreferrer noopener">Marvell Launches Next-Gen Connectivity to Meet Rising AI Demands in Data Infrastructure</a>
Still, the rising tide of AI is so strong, the vendors appear more confident in projecting growth for the next few years ($10 billion in calendar 2024, going to $30 billion by calendar 2029, per Lumentum/Lightcounting), significantly as it&#8217;s levered to capex from strong US cloud customers with a mission-critical need to invest in AI, versus more prior cycles driven by cyclically exposed global telcos.
Within optical components, Arya is most positive on Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) (price target $260) in large-cap and Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) (price target $125) in SMIdcap, though he also noted positive sentiment at Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) (price target $75), Lumentum Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) (price target $85), Marvell Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) (price target $120) and MACOM Technology Solutions Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NASDAQ">MTSI</a>) (price target $160).
Going into OFC and last week&#8217;s Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GTC, the prevailing concern was the imminent launch of co-packaged optics (CPO) solutions in scale-out (between racks) and scale-up (within AI rack), potentially impacting the current discrete pluggable market that uses optical transceivers (Tx) with digital signal processors (DSP).&nbsp;&nbsp;
The reality was that Nvidia mentioned but did not launch any new scale-up solution. In some instances, the roadmap still relies heavily on copper or linear pluggable (LPO). Nvidia&#8217;s CPO announcements are spread out in the second half of 2026 for InfiniBand and in the second half of 2027 for Ethernet, indicating no real urgency in deployment.&nbsp;
Meanwhile, during OFC, Arya heard talks from Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), showing no specific interest in abandoning the operationally sound pluggables approach to jump to CPO.&nbsp;
CPO can indeed save on space and power, but it comes at higher operational costs and has yet to be proven reliable. Any major deployment is pushing out to later this decade despite the strong tech offerings from CPO leader Broadcom and then Nvidia. Overall, Arya remains confident in the pluggable growth at Coherent and key DSP supplier Marvell Technology.
Arya attended Lumentum&#8217;s Analyst Day, where management raised its intermediate-term growth projections towards $3 billion from $2.4 billion given at last year&#8217;s OFC.&nbsp; Per Lumentum, it&#8217;s on track to achieve its $500 million quarterly run rate, exiting this year with $600 million+ per quarter in 6-9 months thereafter and $750 million a year later.&nbsp;
Interestingly, the increase from $2.4 billion to $3 billion is driven more by optical circuit switches (OCS) and high-speed continuous wave (CW) lasers rather than optical Tx, which could help from a margin perspective.&nbsp; Arya maintained the Underperform rating until he got a better indication of OCS industry demand outside Google&#8217;s captive OCS switch. Arya prefers Coherence, which is exposed to many of the same trends but with more attractive valuation and margin expansion opportunities.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44651259/asml-stock-hits-52-week-low-as-trumps-eu-tariffs-and-china-sanctions-weigh-on-outlook" target="_blank" rel="noreferrer noopener">Trump&#8217;s EU Tariffs Impacts Chip Equipment Giant ASML, Stock Hits 52-Week Low</a></li>
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CRDO

MTSI

Rising Tide Of AI Is So Strong That Semiconductor Optical Industry Projects $30 Billion Total Addressable Market By 2029

Rosenblatt analyst Mike Genovese upgraded Coherent Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) from Neutral to Buy and lowered the <a target="_blank" href="https://www.benzinga.com/quote/COHR/analyst-ratings" rel="noreferrer noopener">price target from</a> $115 to $85 on Friday.
Genovese is upbeat on sequential re-acceleration in AI transceivers by the second half of calendar 2025, driven by the Blackwell rollout and Coherent ZR transceiver demand for Data Center Interconnect (DCI) and telecom application that is very strong.
The analyst is bullish on the transceiver market through 2030 and increasingly views co-packaged optics (CPO) as more of an opportunity than a threat because of new products like Ultra-High-Power (UHP) lasers and Optical Circuit Switches (OCS).
Also Read: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44517267/whats-going-on-with-coherent-stock-thursday" target="_blank" rel="noreferrer noopener">Coherent Stock Slides as It Plans to Offload Fabrication Site Near University of Illinois</a>
Coherent is also making solid progress in commercializing 200G VCSELs and 100G and 200G EMLs.
Additional reasons for liking Coherent are the strong new CEO, Jim Anderson.
The stock has pulled back to its historical (pre-AI) valuation of under 13 times forward earnings. This likely signals that the buy side believes numbers need to come down due to demand destruction from the new tariffs, including 24% on Malaysian goods.
Genovese did not change estimates, primarily because of the very positive demand messages he heard from companies at the Optical Fiber Conference (OFC) this week. Another reason is that tariffs still seem to be a potentially moving target.
The analyst considers Coherent to be a long-term leader in AI Optics.
Coherent has increased 800G Datacom transceiver revenues every quarter for the last couple of years and now does ~$300 million per quarter in sales. This makes Coherent #2 in global market share after Innolight.
While sequential growth for Coherent in 800G has continued, it has slowed recently.
Investors are now openly discussing Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) <a target="_blank" href="https://www.benzinga.com/news/global/25/04/44645946/microsoft-halts-data-center-expansions-due-to-semiconductor-tariff-concerns-ai-overcapacity-fears" rel="noreferrer noopener">delaying some new</a> Data Center builds.
Nevertheless, the analyst expects Coherent&#8217;s and the overall market&#8217;s 800G Datacom transceiver sales to accelerate in the September and December quarters, driven by attachments to shipments of Blackwell GPUs ordered in the first half of 2025.
In the second quarter of 2025, Coherent&#8217;s Telecom revenues grew 11% year over year, following 17% year over year growth in the first quarter of 2025.
The company noted the strong ramp of new products and said it expects these products to continue to grow over the coming quarters.
Coherent management echoed these sentiments when Genovese met with them this week at OFC.
In addition, Ciena Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) and Cisco Systems, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) said that the demand for Hyper-Scale DCI remains incredibly strong at OFC this week. However, any chatter investors hear about Microsoft, in particular, slowing down on some new Data Center investments.
At the OFC meeting, Coherent said it has the vendor&#8217;s most extensive portfolio of CPO components. The company also said CPO equipment is currently 2 to 4 times more expensive than transceiver equipment since it is new and esoteric. Coherent told the analyst it is participating in OCS deployments this year at a significant Hyper Scaler and is engaged in similar planning and bids with others.
According to the analyst&#8217;s checks, Lumentum Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) is still significantly ahead in EML capacity, but Coherent is finally getting close to ramping up its own EML production.
Genovese is confident that Coherent can expand its production of indium phosphide lasers, including EMLs and CWs, over time.
Coherent has manufacturing locations around the world, including Malaysia (24% tariff), China (54% tariff), other Asian countries (tariff rates mostly between Malaysia and China), and Europe (20% tariff).
Genovese projected third-quarter revenue of $1.44 billion and EPS of 85 cents.
Price Action: Coherent stock is down 9% at $49.06 at last check Friday.
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Upgrades

CIEN

Coherent Gets Analyst Upgrade, But Tariffs Could Cast Shadow Over Future Growth

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Shares of companies within the broader technology sector are trading lower as investors react to macro and supply chain uncertainty amid President Trump's sweeping Liberation Day tariffs and retaliatory responses from major trading nations.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Citigroup cut Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) price target from $25 to $22. Citigroup analyst Paul Lejuez downgraded the stock from Neutral to Sell. Nordstrom shares closed at $23.96 on Thursday. See how other analysts <a href="https://www.benzinga.com/quote/JWN/analyst-ratings">view this stock</a>.</li>
<li>Baird slashed the price target for BRP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOOO#NASDAQ">DOOO</a>) from $48 to $43. Baird analyst Craig Kennison downgraded the stock from Outperform to Neutral. BRP shares closed at $35.38 on Thursday. <a href="https://www.benzinga.com/quote/DOOO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays raised ADT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADT#NYSE">ADT</a>) price target from $7 to $9. Barclays analyst Manav Patnaik upgraded the stock from Underweight to Equal-Weight. ADT shares closed at $8.08 on Thursday. See how other analysts view<a href="https://www.benzinga.com/quote/ADT/analyst-ratings"> this stock</a>.</li>
<li>JP Morgan cut the price target for LyondellBasell Industries N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) from $80 to $60. JP Morgan analyst Jeffrey Zekauskas downgraded the stock from Overweight to Neutral. LyondellBasell shares closed at $63.11 on Thursday. <a href="https://www.benzinga.com/quote/LYB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham cut the price target for Montrose Environmental Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEG#NYSE">MEG</a>) from $39 to $28. Needham analyst James Ricchiuti maintained a Buy rating. Montrose Environmental shares closed at $12.20 on Thursday. See how other analysts view this stock.</li>
<li>HC Wainwright &amp; Co. cut I-Mab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>) price target from $8 to $7. HC Wainwright &amp; Co. analyst Andrew Fein maintained a Buy rating. I-Mab shares settled at $0.7301 on Thursday. <a href="https://www.benzinga.com/quote/IMAB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rosenblatt cut Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) price target from $115 to $85. Rosenblatt analyst Mike Genovese upgraded the stock from Neutral to Buy. Coherent shares closed at $53.91 on Thursday. <a href="https://www.benzinga.com/quote/COHR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup slashed Eastman Chemical Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMN#NYSE">EMN</a>) price target from $105 to $101. Citigroup analyst Patrick Cunningham upgraded the stock from Neutral to Buy. Eastman Chemical shares closed at $79.98 on Thursday.  <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird slashed the price target for LCI Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCII#NYSE">LCII</a>) from $130 to $100. Baird analyst Craig Kennison downgraded the stock from Outperform to Neutral. LCI Industries shares settled at $81.00 on Thursday. <a href="https://www.benzinga.com/quote/LCII/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird cut MasterCraft Boat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCFT#NASDAQ">MCFT</a>) price target from $26 to $20. Baird analyst Craig Kennison downgraded the stock from Outperform to Neutral. MasterCraft Boat shares closed at $16.41 on Thursday. <a href="https://www.benzinga.com/quote/MCFT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying ADT stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="611" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04085201/image-48-1024x611.png" alt="" class="wp-image-857531" style="width:488px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04085201/image-48-1024x611.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04085201/image-48-300x179.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04085201/image-48-768x458.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04085201/image-48.png 1098w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Pre-Market Outlook

Markets

DOOO

IMAB

LCII

MCFT

ADT To Rally More Than 11%? Here Are 10 Top Analyst Forecasts For Friday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Barclays analyst Manav Patnaik upgraded the rating for ADT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADT#NYSE">ADT</a>) from Underweight to Equal-Weight and raised the price target from $7 to $9. ADT shares closed at $8.08 on Thursday. <a href="https://www.benzinga.com/quote/ADT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rosenblatt analyst Mike Genovese upgraded Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) from Neutral to Buy and lowered the price target from $115 to $85. Coherent shares closed at $53.91 on Thursday. <a href="https://www.benzinga.com/quote/COHR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst James Hardiman upgraded BRP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOOO#NASDAQ">DOOO</a>) from Sell to Neutral and raised the price target from $27 to $37. BRP shares closed at $35.38 on Thursday. <a href="https://www.benzinga.com/quote/DOOO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Ben Gerlinger upgraded Flagstar Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLG#NYSE">FLG</a>) from Neutral to Buy and raised the price target from $13.5 to $15. Flagstar Financial shares closed at $10.79 on Thursday. <a href="https://www.benzinga.com/quote/flg/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Patrick Cunningham upgraded Eastman Chemical Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMN#NYSE">EMN</a>) from Neutral to Buy and lowered the price target from $105 to $101. Eastman Chemical shares closed at $79.98 on Thursday.  <a href="https://www.benzinga.com/quote/emn/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying ADT stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="594" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04081750/image-46-1024x594.png" alt="" class="wp-image-857450" style="width:547px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04081750/image-46-1024x594.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04081750/image-46-300x174.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04081750/image-46-768x445.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04081750/image-46.png 1092w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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EDAP

This Eastman Chemical Analyst Turns Bullish; Here Are Top 5 Upgrades For Friday

Rosenblatt analyst Mike Genovese upgrades Coherent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) from Neutral to Buy and lowers the price target from $115 to $85.

Rosenblatt Upgrades Coherent to Buy, Lowers Price Target to $85

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Shares of companies within the broader technology sector are trading lower as markets react to President Trump's announcement of sweeping tariffs.

President Donald Trump has set up a new body within the Commerce Department to manage the CHIPS and Science Act, 2022. 
What Happened: A new entity, the United States Investment Accelerator within the Commerce Department, will now oversee the CHIPS Act program, as established by an executive order signed by Trump on Monday.
Despite Trump&#8217;s past criticism of the bipartisan legislation, the White House said in its fact sheet that the new office will focus on &#8220;negotiating much better CHIPS Act deals&#8221; and streamlining investment processes through reduced regulatory burdens and faster permitting.
According to the <a href="https://www.semiconductors.org/chip-supply-chain-investments/">Semiconductor Industry Association</a>, the CHIPS Program has granted awards worth $32.5417 billion and provided loans up to $5.85 billion to 32 companies across 23 states. 
However, the new entity — Investment Accelerator that will be controlling the CHIPS Act, not only plans to expedite corporate investments but promises to deliver &#8221; the benefit of the bargain for taxpayers,&#8221; as per the Whit House fact sheet.
Other primary goals of the body include;
<ul>
<li>Reducing regulatory burdens</li>
</ul>
<ul>
<li>Speeding up permitting;</li>
</ul>
<ul>
<li>Coordinating responses to investor issues across multiple Federal agencies; </li>
</ul>
<ul>
<li>Increasing access to national resources;</li>
</ul>
<ul>
<li>Facilitating collaboration with national laboratories; </li>
</ul>
<ul>
<li>Working with all 50 state governments and their economic development organizations.</li>
</ul>
Here are the U.S.-listed beneficiaries that have received grants under the CHIPS and Science Act, 2022 in the past. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company Stocks</td>
<td>YTD Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>Amkor Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMKR#NASDAQ">AMKR</a>)</td>
<td>-30.57%</td>
<td>-43.23%</td>
</tr>
<tr>
<td>Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>)</td>
<td>-4.58%</td>
<td>2.57%</td>
</tr>
<tr>
<td>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>)</td>
<td>-35.44%</td>
<td>8.23%</td>
</tr>
<tr>
<td>Corning Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>)</td>
<td>-1.99%</td>
<td>40.13%</td>
</tr>
<tr>
<td>Entegris Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTG#NASDAQ">ENTG</a>)</td>
<td>-10.03%</td>
<td>-37.79%</td>
</tr>
<tr>
<td>Globalfoundries Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>)</td>
<td>-13.11%</td>
<td>-28.73%</td>
</tr>
<tr>
<td>HP Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>)</td>
<td>-14.72%</td>
<td>-8.85%</td>
</tr>
<tr>
<td>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td>
<td>12.31%</td>
<td>48.99%</td>
</tr>
<tr>
<td>MACOM Technology Solutions Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NASDAQ">MTSI</a>)</td>
<td>-22.44%</td>
<td>2.83%</td>
</tr>
<tr>
<td>Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>)</td>
<td>-14.89%</td>
<td>-46.06%</td>
</tr>
<tr>
<td>Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)</td>
<td>-0.50%</td>
<td>-30.10%</td>
</tr>
<tr>
<td>Polar Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POLA#NASDAQ">POLA</a>)</td>
<td>-30.66%</td>
<td>-31.05%</td>
</tr>
<tr>
<td>Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>)</td>
<td>-28.37%</td>
<td>338%</td>
</tr>
<tr>
<td>Skywater Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYT#NASDAQ">SKYT</a>)</td>
<td>-47.36%</td>
<td>-30.08%</td>
</tr>
<tr>
<td>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>)</td>
<td>-3.88%</td>
<td>3.77%</td>
</tr>
<tr>
<td>Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)</td>
<td>-17.65%</td>
<td>17.32%</td>
</tr>
<tr>
<td>Wolfspeed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>)</td>
<td>-53.85%</td>
<td>-89.77%</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/04/44578555/nancy-pelosis-pick-palo-alto-networks-downplays-ai-spending-need-analyst-warns-ai-digestion-phase-may-be-a-larger-problem" target="_blank" rel="noreferrer noopener">Nancy Pelosi's Pick, Palo Alto Networks Downplays AI Spending Need: Analyst Warns ‘AI Digestion Phase May Be A Larger Problem'</a>
Why It Matters: Trump has been vocal about his criticism of the CHIPS Act. On March 4, during his joint address to Congress, he said, &#8220;Your Chips Act is a horrible, horrible thing.&#8221;
He also urged U.S. House Speaker Mike Johnson to &#8220;get rid&#8221; of it and use &#8220;whatever is left over&#8221; to &#8220;reduce debt or any other reason you want to.&#8221;
However, the White House&#8217;s new plan has passed on the management of the act to the new entity. Since his time in office, Trump has been able to convince companies to invest in the U.S.
In early March, Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM revealed its plans to inject another $100 billion into U.S. advanced semiconductor manufacturing, significantly expanding its ongoing $65 billion Arizona initiative and bringing total investment to $165 billion.
Similarly, the Magnificent 7 companies are widely expected to spend more than $330 billion on capex in 2025. While the chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hasn't explicitly mentioned a target during its earnings call, the iPhone maker Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) broadly expects to spend $500 billion over the next four years. The remaining companies, however, have provided a specific target for 2025.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>CAPEX Target For 2025</td>
</tr>
<tr>
<td>Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$80 Billion</td>
</tr>
<tr>
<td>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>$100 Billion</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>$75 Billion</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>$65 Billion</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>$11 Billion</td>
</tr>
</tbody>
</table>
</figure>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, dropped in premarket on Monday. The SPY was down 0.51% to $556.56, while the QQQ declined 0.46% to $466.75, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/04/44579361/charlie-mungers-top-pick-costcos-golden-touch-gold-prices-soar-58-outpacing-spy-since-it-started-selling-gold-33-months-ago">Charlie Munger&#8217;s Top Pick Costco&#8217;s Golden Touch: Gold Prices Soar 58%, Outpacing SPY Since It Started Selling Gold 33 Months Ago</a></li>
</ul>
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Days After Calling The CHIPS Act A 'Horrible Thing,' Donald Trump Sets Up New Entity For 'Negotiating Much Better...Deals:' Here's More

- Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>), a global leader in photonics, will show a live demonstration of its silicon photonics-based 1.6T-DR8 transceiver module using a Marvell&#xAE; Ara 3nm optical digital signal processor (DSP) at OFC 2025. This transceiver features 200 Gbps electrical and optical interfaces.
While the most advanced DSPs deployed in datacom transceivers today use 5nm node sizes, there is a constant push to an even smaller node size in order to minimize electrical power dissipation. Coherent's transceiver in this demonstration uses Marvell Ara DSP, a 3nm 1.6T PAM4 optical DSP, which aims to reduce the power dissipation of 1.6T optical transceivers by over 20%. Energy efficiency improvement reduces operational costs and enables new AI server and networking architectures to address the need for higher bandwidth and performance for AI workloads within the significant power constraints of the data center. "Demonstrating this next generation of 1.6T transceivers highlights the versatility and robustness of our silicon photonics platform and highlights our strong drive to continually reducing power consumption," said Dr. Jack Xu, Vice President of Engineering for transceivers at Coherent. "As the industry transitions into the era of 200G optical lanes, we remain committed to reinforcing our market leadership by being at the forefront of innovation." &nbsp;

Coherent Corp To Showcase A Live Demonstration Of Its Silicon Photonics-Based 1.6t-DR8 Transceiver Module Using A Marvel Ara 3NM Optical Digital Signal Processor At OFC 2025

IVDA

TDTH

Shares of companies in the broader technology sector are trading lower as President Trump declares that reciprocal tariffs will target all countries.

Coherent Introduces Multi-Rail Technology With Resource Pooling

Shares of companies in the broader technology sector are trading lower following greater-than-expected inflation data measured through the PCE price index for February, while personal spending missed estimates. Additionally, recent tariff announcements may be weighing on equities.

Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) shares are trading lower on Thursday after the company announced plans to sell its epitaxial fabrication <a href="https://www.benzinga.com//node/44503574">facility in Illinois</a>.
What To Know: The company said its plans to sell its epitaxial fabrication facility come as part of its initiatives to optimize its manufacturing footprint. 
The 65,000 square foot facility is located six miles from the University of Illinois at Urbana-Champaign and comprises of four buildings and a variety of fabrication and characterization equipment.
How To Buy Coherent Shares
By now you're likely curious about how to participate in the market for Coherent &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of Coherent, which is trading at $68.33 as of publishing time, $100 would buy you 1.46 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
See Also: <a href="https://www.benzinga.com/news/contracts/25/03/44515343/willis-lease-finance-boosts-india-ties-with-new-engine-sale-and-leaseback-agreement-for-air-india-express">Willis Lease Finance Boosts India Ties with New Engine Sale and Leaseback Agreement for Air India Express</a>
COHR Price Action: At the time of writing, Coherent shares are trading 3.03% lower at $69.32, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: This illustration was generated using artificial intelligence via Midjourney.

Movers

What's Going On With Coherent Stock Thursday?

Coherent shares are trading lower after the company announced its plans to sell the epitaxial fabrication facility in Illinois.

Press Releases

Coherent Demonstrates Industry's First 400G Differential Electro-Absorption Modulated Laser

Coherent Introduces Optical Transceivers Optimized for Optical Circuit Switch Applications

Coherent Announces General Availability of 800G ZR/ZR+ QSFP-DD Transceiver

Coherent Announces General Availability of Industry-First 100G ZR QSFP28-DCO With High Optical Output Power

Coherent Introduces Multi-Rail Technology With Resource Pooling for Efficient Optical Transport

Coherent to Showcase Innovative Products, Technologies and Thought Leadership at OFC 2025

Coherent to Showcase Silicon Photonics Based 1.6T Transceiver Modules Incorporating Next-Generation ICS for Low Power Consumption

Coherent Demonstrates 1.6T Optical Transceivers Based on 200G VCSELs

Coherent Corp. to Host Analyst and Investor Day on May 28, 2025

Coherent Introduces Axon FL: a Versatile Fiber Coupling Module for Mini2P Applications

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