(NYSE: COHR) and Lumentum (NASDAQ: LITE) are two of the world's largest producers of lasers and optical communications chips. But over the past year, Coherent's stock stayed nearly flat as Lumentum's stock plummeted 40%.

Coherent, known as II‐VI before it acquired the original Coherent and assumed its name and ticker last July, impressed investors with its improved scale and the growth potential of its artificial intelligence-oriented (AI-oriented) and silicon carbide businesses. Lumentum, which nearly merged with the original Coherent before it was outbid by II-VI, disappointed investors with its slowing growth and lack of near-term catalysts.

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Source Fool.com