Last July, II‐VI Inc. acquired Coherent (NYSE: COHR) and took over its name and ticker. The acquisition created a larger and more broadly diversified manufacturer of optical materials, lasers, and semiconductors, and it initially gained a lot of attention from the bulls with the growth potential of its AI-related equipment and silicon carbide businesses.

However, Coherent's stock plummeted in August after it followed up its fiscal fourth-quarter earnings beat with a softer-than-expected forecast for the first quarter of fiscal 2024 (which started on July 1). As a result, Coherent's stock remains nearly flat over the past 12 months.

Let's see where this divisive stock might be headed in a year.

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Source Fool.com