Abstract: Target for a magnetron-cathode sputtering apparatus is made from a cobalt base alloy containing additional elements in such concentrations that intermetallic phases are formed with at least one of these elements and intermetallic phases are observed on the basis of the phase diagram in the state of equilibrium at the operating temperature of the target. The grain boundaries, sub-grain boundaries, twin-grain boundaries or slip bands of the cobalt mixed crystal forming the matrix are decorated with the elements forming the intermetallic phases. X-ray diffraction diagrams made from the target display reflections of an intermetallic phase which is largely absent in the cast state and which forms only during a heat treatment in the temperature range below the solidus temperature of the alloy by a solid state reaction.