Coherent (COHR): Top 10 Stock To Buy That Was Added to the S&P 500 Recently?

Coherent Corp. (NYSE:COHR) recently joined the S&P 500 and has surged nearly 49% since then, making it one of the top stocks that were added to the S&P 500 index recently.

Coherent Corp. (NYSE:COHR) shares have gained over 106% so far in 2026, driven by robust AI-driven demand for its optical networking hardware and a multi-billion-dollar equity collaboration with Nvidia. Coherent has federal backing under the CHIPS Act. On June 16, Coherent announced that it is set to receive up to $50 million in direct funding under the CHIPS and Science Act. The company has signed the letter of intent to receive the funding for the expansion of its Indium Phosphide semiconductor manufacturing facility in Sherman, Texas.

Photo from Coherent website

Coherent has already obtained nearly $20 million in a funding round through the Texas Semiconductor Innovation Fund and the Sherman Economic Development Corporation. The expansion plan will double manufacturing production space and 4x wafer production capacity at the facility. The Sherman facility is already the world’s leading 6-inch Indium Phosphide manufacturing plant. The additional investment strengthens the core and long-term growth prospects of Coherent’s presence in the Indium Phosphide semiconductor market, on top of its expanded partnership with Nvidia.

Coherent Corp. (NYSE:COHR) engages in the development, refinement, manufacturing, and marketing of engineered materials, opto-electronic components and devices, and lasers for use in the industrial, communications, electronics, and instrumentation markets.

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