Coherent Unveils Advanced SiC Epitaxy for 10kV Power Devices, Shares Jump 9%
Summary
Coherent Corp. announced the unveiling of new SiC epitaxy technology for 150mm/200mm wafers, enabling high-power devices up to 10 kV. This advancement is critical for high-growth applications such as AI data centers, renewable energy, rail, and EV fast-charging, significantly strengthening Coherent's position in the power electronics market. The market reacted strongly to this news, with shares jumping approximately 9% and maintaining gains. While JP Morgan also raised its price target to $300, citing AI data-center demand and Coherent's co-packaged optics, the primary driver for the stock's immediate surge is the material product innovation. Traders will be watching for further details on adoption and revenue impact from this new technology.
At the time of this announcement, COHR was trading at $308.00 on NYSE in the Technology sector, with a market capitalization of approximately $57.7B. The 52-week trading range was $50.81 to $310.98. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.