Coherent is trading 13.16% lower at $206.97 as selling hit AI-optics and semiconductor stocks on October 30. - Reports cited pressure across optical-networking peers and concerns over AI infrastructure spending and valuation; Intel’s weak outlook fueled a broader chip selloff. - No clear negative company-specific announcement was identified. Results are scheduled for November 4, focusing investors ahead of earnings. - B. Riley maintained its Neutral rating and lowered its price target to $262; available evidence does not establish this as the direct cause.