10 Firms Take a Beating on Tariff Worries

7. Coherent Corp. (NYSE:COHR)

Coherent saw its share prices decline by 20.18 percent on Thursday to finish at $53.91 apiece, in line with the overall market sentiment that was dampened by President Donald Trump’s imposition of steep tariffs on US imports.

COHR is a US-based manufacturer of optic materials and semiconductors. With the ongoing trade tensions among economies, it is set to bear the brunt of higher costs of raw materials.

Despite market uncertainties, Needham & Company raised its price target for Coherent to $125 from $120 previously, while maintaining a “buy” rating on the stock on the back of its strong fourth-quarter earnings attributed to its AI-related Datacom transceiver business and improved demand in telecom vertical.

In its latest earnings release, Coherent said it swung to a net income of $103 million for the second quarter of fiscal year 2025, reversing a $27 million net loss in the same period a year earlier.

It also booked a net income of $129.3 million in six months ending December 2024, versus a $94.5 million net loss in the same period year-on-year.