15 Best Stocks to Buy for the Second Half of 2026

6. Coherent Corp. (NYSE:COHR)

Number of Hedge Fund Holders: 114

Year-to-date return: 89.70%

On June 2, Raymond James raised its price target on Coherent Corp. (NYSE:COHR) to $435 from $371. The firm maintained a “Strong Buy” rating on the stock. In a note, the firm stated the company is in a great position across artificial intelligence data center interconnect architectures. The firm said Coherent’s broad optical technology portfolio and intellectual property remain underappreciated, with more upside possible from both transceiver and non-transceiver sales.

Earlier, on 16 June, Coherent Corp. (NYSE:COHR) announced it had signed a letter of intent with the US Department of Commerce for up to $50 million in CHIPS Act funding to expand its 6-inch indium phosphide semiconductor facility in Sherman, Texas. The corporation disclosed that the project will double manufacturing space, quadruple wafer production capacity, and create more than 1,000 jobs. It includes over 550 direct manufacturing, engineering, and technical roles.

CEO Jim Anderson said, “AI is transforming our world.” He said the investment will expand US production of critical AI technologies and strengthen American manufacturing leadership.

Coherent Corp. (NYSE:COHR) produces, refines, manufactures, and markets engineered materials, optoelectronic components and devices, and lasers for the industrial, communications, electronics, and instrumentation markets. It works through networking, materials, and laser areas.

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