Coherent Rallies 6% Ahead of Earnings as Optical Stocks Rebound; Applied Optoelectronics Gains 5%, Lumentum Ticks Up

Impact · against what's priced in

The Lumentum acquisition by Marvell creates a scarcity premium for remaining independent photonics players, providing a catalyst for Coherent and AAOI. However, Coherent's upcoming earnings will be the true test of whether the market can begin pricing in the margin expansion and operating leverage it currently discounts.

LITE+0.50: Not in the price yet
In context: The all-stock acquisition by Marvell at a fixed 4.5 exchange ratio values the company at $1,132 per share, a significant premium over the current $689.81 price.

Coherent Rallies 6% Ahead of Earnings as Optical Stocks Rebound; Applied Optoelectronics Gains 5%, Lumentum Ticks Up

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