Many tech investors likely recognize Coherent (NYSE: COHR) as the maker of lasers, optical equipment, and chips and it was acquired by II-VI last July. They also probably know II-VI rebranded itself as Coherent and took over its ticker.

Yet this "new" Coherent hasn't impressed investors so far. Its revenue declined sequentially over the past two quarters, and it's bracing for another sequential drop in its current quarter. Its gross and operating margins also contracted as its revenue growth cooled off. It blames that slowdown on the persistent macro headwinds for the industrial, instrumental, consumer electronics, and communications markets.

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Source Fool.com