• Not for the first time, Coherent shares sold off 20%+.
• This isn’t out of the ordinary for a company which experienced huge share gains and supplies at least in part to a cyclical industry.
• But backlog is sufficiently substantial to smooth a few rough quarters out and valuation still seems reasonable to us.

Source: Coherent Seems In Good Health To Us – Coherent, Inc. (NASDAQ:COHR) | Seeking Alpha