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Non-Tech : Kirk's Market Thoughts

COHR 139.28

-0.5%

Nov 14 9:30 AM EST

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To: Kirk © who wrote (25566)	8/14/2025 12:35:43 PM
From: Elroy	Read Replies (1) of 26512

This idea that COHR has an aerospace division sort of confuses me, as well. Why would photonics devices be different based on industry served? 'Transport data using light' sounds like it as nothing to do with the customer's industry. Obviously I don't know much about this company. --- However, it does seem like the stock is (perhaps) undervalued today based on the sales price of the to be sold aerospace division. They said it had annual sales of about $200m, and sold it for $400m (2x sales). And presumably it was a loser compared to the divisions they aren't selling. COHR now is on about a $6 billion revenue run rate, with a market cap of $13b, so only 2.1x sales for the rest of the company. The "blue chip" division should (one would think) command a much higher multiple than the so so sold division.

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