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NEW YORK - Coherent Corp. (NYSE:COHR), a $5.6 billion revenue technology company with strong revenue growth of 22% in the last twelve months, introduced the LEAP 600C, a 600-watt class excimer laser operating at 308 nm wavelength designed for pulsed laser deposition (PLD) of high-temperature superconducting (HTS) tapes, according to a press release statement.
The company unveiled the new laser at Laser World of Photonics 2025 in Munich, Germany. The LEAP 600C reportedly delivers twice the power and throughput of current solutions and features "on-the-fly active injection technology" that extends runtime in production environments. According to InvestingPro analysis, Coherent maintains a healthy financial position with a current ratio of 2.47, indicating strong ability to fund its innovative product development.
HTS materials are used in magnetic confinement fusion, medical imaging, and power grid applications. The company claims PLD provides superior film quality for HTS applications compared to other deposition methods.
"The LEAP 600C enables the industrial scale-up of HTS tape production, which is critical to achieving net-energy fusion milestones within this decade," said Dr. Kai Schmidt, Senior Vice President, Excimer Laser Business Unit.
The laser is part of Coherent’s LEAP excimer platform, which includes versions operating at 193 nm, 248 nm, and 308 nm wavelengths with output powers up to 600 W.
The company reports that the first LEAP 600C unit has been tested at a HTS manufacturer and is scheduled to enter production in late 2025, with general availability expected in 2026.
Coherent manufactures photonics products for industrial, communications, electronics, and instrumentation markets. While currently trading above its InvestingPro Fair Value, analysts remain optimistic with a consensus "Buy" rating and price targets ranging from $77 to $122 per share. The company is expected to return to profitability this year, with projected earnings of $3.60 per share for fiscal 2025. For deeper insights into Coherent’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Coherent Corp. has made significant advancements with the introduction of its new high-power laser diode, SES18-880A-190-10, designed for diode-pumped solid-state lasers. This product offers 18 watts of optical output power and aims to enhance applications in micromachining and semiconductor processing. Additionally, Coherent released a diamond-loaded silicon carbide ceramic composite, boasting thermal performance that doubles that of copper, targeting AI datacenters and high-performance computing systems. In the financial arena, JPMorgan raised its price target for Coherent to $100, maintaining an Overweight rating, citing confidence in the company’s growth trajectory and margin improvements. Citi analysts also increased their price target to $115, reflecting optimism in Coherent’s strategic focus and growth prospects. Stifel maintained its Buy rating and $100 target, highlighting Coherent’s focus on photonic technologies and potential revenue growth in Datacenter and Communications, and Industrial markets. These developments suggest Coherent’s continued focus on innovation and strategic growth.
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