Coherent, Inc.
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Range $230 – $455
Price Chart
About the company
Coherent, Inc. specializes in advanced laser technologies, offering a comprehensive suite of products that includes lasers, laser-based solutions, and complete systems. These are deployed across a spectrum of uses, from commercial and industrial operations to critical scientific research.
- CEO
- James Robert Anderson
- IPO
- 1987
- Employees
- 51,478
- HQ
- Saxonburg, PA, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a long-term uptrend after a powerful multi-month run, but it is still below its 200-day average, so the setup is more corrective than momentum-chasing. It is well off the 52-week high of 440 and far above the 52-week low of 85.52, keeping the secular trend constructive but extended.
Street sentiment stays constructive: 24 buys or strong buys versus 7 holds and no sells, with consensus at Buy. The target stack has moved up sharply, led by recent raises to 420, 435, 448, and 455, while the consensus target sits at 389, above the current share price.
The earnings profile is strong, with 8 straight EPS beats and the latest quarter topping estimates by 2.8%. Fiscal 2026 EPS is expected at 5.45663, rising to 8.37165 for 2027, so shareholders should watch whether revenue growth and margin expansion keep pace with that step-up.
Insider flow leans negative on discretionary activity, with net selling led by the CFO and one director. Most other entries are automatic or non-open-market events, including in-kind and exempt transactions, so the signal comes mainly from the repeated open-market sales rather than award-related noise.
Profitability is solid and improving, with gross margin at 37.5%, operating margin at 11.83%, and net margin at 11.31%. Revenue growth of 33.7% and earnings growth of 73% show strong operating leverage, while ROE of 7.98% leaves room for further efficiency gains.
COHR screens as a higher-beta optical and laser hardware name with a premium valuation versus the sector, trading at 63.8 times earnings. The bull case rests on datacenter and communications exposure plus faster growth than most industrial-tech peers, but the market is already pricing in a lot of that upside.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $56.33B
- P/E
- 66.19
- Fwd P/E
- 30.51
- PEG
- 0.04
- P/S
- 7.91
- P/B
- 5.17
- EV/EBITDA
- 44.38
- Div Yield
- 0.00%
- Gross Margin
- 37.50%
- Op Margin
- 10.87%
- Net Margin
- 11.31%
- ROE
- 8.37%
- ROIC
- 4.63%
Latest fiscal year · YoY change
- Revenue
- $2.05B-64.8%
- Gross Profit
- $787.00M-61.7%
- Op Income
- $278.50M
- Net Income
- $240.50M+387.2%
- EPS
- $1.23+336.5%
- OCF Growth
- -87.5%
- FCF Growth
- -630.9%
- 52W High
- $440.00
- 52W Low
- $85.52
- 50D MA
- $332.20
- 200D MA
- $268.26
- Beta
- 2.11
- RSI (14)
- 45
- Avg Volume
- 6.14M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Coherent capped a record FY26 with strong AI data center and communications demand, then guided to another step-up in FY27 as 6-inch InP capacity, CPO, OCS and multi-rail ramp.· August 12, 2026
- FY26 revenue hit a record $7.12 billion, with non-GAAP EPS up 59% for the year and Q4 EPS up 74% year over year.
- Q4 revenue was $2.05 billion, up 13% sequentially and 34% year over year; pro forma revenue was up 14% sequentially and 42% year over year.
- Gross margin improved to 40.2% in Q4 and 39.4% for FY26, helped by 6-inch Indium Phosphide, yields, and pricing actions.
- Management said demand remains very strong, with orders extending into calendar 2028 and LTAs running through the end of the decade.
- FY27 Q1 guide points to continued growth: revenue of $2.2 billion-$2.4 billion and non-GAAP EPS of $1.85-$2.05.
Fiscal 2026 revenue was a record $7.12 billion, up 23% from FY25 and up 28% on a pro forma basis. Q4 revenue was a record $2.05 billion, up 13% sequentially and 34% year over year; on a pro forma basis, Q4 revenue was up 14% sequentially and 42% year over year. FY26 non-GAAP gross margin was 39.4%, up 152 basis points from FY25; Q4 non-GAAP gross margin was 40.2%, up 66 basis points sequentially and 215 basis points year over year. FY26 non-GAAP EPS was $5.61, up 59% year over year; Q4 non-GAAP EPS was $1.74, up 23% sequentially and 74% year over year. FY26 non-GAAP operating margin was 20.5%, up from 17.8% in FY25, and Q4 non-GAAP operating margin was 21.8%. Cash ended FY26 at $2.59 billion, debt leverage was 0.7x versus 2.0x at the end of FY25, and capital expenditures were $556 million in Q4. For Q1 FY27, management guided revenue to $2.2 billion-$2.4 billion, non-GAAP gross margin to 39.5%-41.5%, non-GAAP operating expenses to $400 million-$420 million, the non-GAAP tax rate to between 1.82 thousand% (as stated on the call), and non-GAAP EPS to $1.85-$2.05.
Jim Anderson framed FY26 as an outstanding year and said Coherent is entering FY27 with exceptional demand, record visibility, and multiple new revenue streams about to ramp. He emphasized AI data center connectivity as the core driver, citing 6-inch Indium Phosphide expansion, CPO, OCS, multi-rail, and advanced thermal materials as major growth engines. His tone was confident and constructive, repeatedly saying the company sees no sign of demand attenuation and expects growth to accelerate materially in FY27.
Sherri Luther highlighted record FY26 revenue of $7.12 billion, gross margin expansion of more than 150 basis points, operating margin expansion of nearly 300 basis points, and EPS growth of 59%. She pointed to gross margin improvement to 40.2% in Q4 and 39.4% for FY26, driven by lower input costs, better yields, 6-inch Indium Phosphide progress, and pricing optimization. On capital allocation, she noted $2.59 billion in cash at year-end, $513 million of debt payments during FY26, leverage down to 0.7x, and $556 million of Q4 capex supporting data center and communications capacity; she also said capex is expected to rise again in Q1.
Analysts focused on the 6-inch Indium Phosphide ramp, CPO/NPO timing, import restrictions on optical transceivers, gross margin trajectory, and whether management’s $3 billion revenue target by the end of FY27 is driven by 1.6T, OCS, multi-rail, backlog, or pricing. Management said the 6-inch ramp is ahead of plan, with output capacity set to double this quarter and more than double again by the end of next calendar year, while 6-inch yields are better than 3-inch. On CPO, management said it has seen no pushout in demand and expects initial CPO revenue in the December quarter, with scale-up CPO later in calendar 27; on LTAs, management said many agreements include both volume and pricing commitments and extend through the rest of the decade.
The call suggested demand is still outpacing supply, with record bookings, orders extending into calendar 2028, and LTAs through the end of the decade. Management also said 6-inch Indium Phosphide capacity is ramping faster than planned and should support both revenue growth and margin expansion, while CPO, OCS, multi-rail, and PhotonLink add new growth vectors.
The biggest constraint remains Indium Phosphide capacity, so near-term growth depends on continued execution in the 6-inch ramp and manufacturing scale-up. Some of the expected upside is still future-oriented, with CPO scale-up, multi-rail, and several other products not yet contributing meaningfully, and management acknowledged gross margin is still below its prior >42% target. Analysts also raised outside noise around import restrictions and CPO delays, even though management said it has not seen demand pushouts.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 95.5%
- Shares Outstanding
- 195.64M
- Float Shares
- 186.92M
of shares held by institutions
1,162 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for COHR, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Sheldon WhitehouseSenate · RI | Buy | Jun 25, 26 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 1, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Mar 25, 26 | Filing → |
| Markwayne MullinSenate · OK | Sell | Feb 4, 26 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Markwayne MullinSenate · OK | Sell | Dec 18, 25 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Oct 17, 25 | Filing → |
| Lisa McClainHouse · MI09 | Buy | Jun 17, 25 | Filing → |
| Markwayne MullinSenate · OK | Buy | Feb 3, 25 | Filing → |
| Markwayne MullinSenate · OK | Buy | Jan 2, 25 | Filing → |
| Markwayne MullinSenate · OK | Buy | Jan 2, 25 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Apr 10, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 16.61M | ▲ 1.66M |
| Vanguard Group Inc | 16.13M | ▼ 170.95K |
| Vanguard Capital Management LLC | 12.77M | ▲ 586.05K |
| Fmr LLC | 11.01M | ▼ 11.65M |
| State Street Corp | 8.59M | ▲ 843.22K |
| Nvidia Corp | 7.79M | 0 |
| Invesco Ltd. | 7.43M | ▲ 720.31K |
| Geode Capital Management, LLC | 5.27M | ▲ 31.15K |
| Capital International Investors | 3.60M | ▲ 3.60M |
| Morgan Stanley | 3.28M | ▲ 526.57K |
| Price T Rowe Associates Inc | 3.08M | ▲ 1.54M |
| Norges Bank | 2.47M | ▲ 2.47M |
Held by 1,543 ETFs
Biggest fund positions in COHR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 22, 26 | Luther Sherri R | sell | 1,000 |
| Jul 1, 26 | Place Jeffrey B. | other | 2,181 |
| May 26, 26 | Place Jeffrey B. | other | 0 |
| Jun 3, 26 | ANDERSON JAMES ROBERT | other | 25,836 |
| May 11, 26 | Xia Howard H. | other | 2,000 |
| May 11, 26 | Xia Howard H. | sell | 500 |
| May 11, 26 | Xia Howard H. | sell | 500 |
| May 11, 26 | Xia Howard H. | sell | 500 |
| May 11, 26 | Xia Howard H. | sell | 500 |
| May 11, 26 | Xia Howard H. | other | 2,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our COHR coverage
Recent articles, reports, and earnings notes.

Coherent Corp. (COHR): AI Optics Growth With Valuation Risk
Coherent is riding strong AI data-center optics demand, with Q3 revenue up 21% and EPS up 55%, but the stock still trades at a premium that demands execution. The report rates COHR a Buy on medium-term growth, while flagging debt, capex needs, and volatility.

Coherent's record AI quarter still wasn't good enough for investors
Coherent delivered the AI-driven beat-and-raise the market wanted, yet shares still fell 12.75% because expectations had moved even higher. At 70.26x earnings, confirmation is no longer enough; COHR needs fresh acceleration.

Coherent, Inc. (COHR) drops 6.6% after earnings miss
Coherent, Inc. (COHR) drops after its fiscal Q4 earnings update sparked a sharp selloff. The stock fell on a big EPS miss versus estimates, even as investors continue to weigh its AI optics exposure, NVIDIA partnership, and long-term growth plans.
Want a deeper read on COHR?
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Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 19, 2026 · Live quote · Not investment advice