# Coherent Corp. (COHR)

> Source: Nexqual · https://nexqual.com/COHR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Coherent Corp. (COHR), nexqual.com/COHR" · informational, not investment advice.

**Price:** USD 207.82 (-12.51% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 207.82 · day 204.38–224.56 · 52w 115–440 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.12B, net income $805M (11.3% margin), free cash flow -$1.02B (SEC filings).
- 4 of 80 tracked superinvestors hold COHR (13F, Q2 2026): 0 new, 0 added, 4 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 11 Form 4 filings, $10.6M; 4 not under a Rule 10b5-1 plan ($3.1M); 0 by opportunistic insiders, 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +71.0% vs S&P 500 +14.9%; 5Y +254.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 1.97, revenue estimate $2.30B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.32B | $5.16B | $4.71B | $5.81B | $7.12B | $7.12B |
| Gross profit | $1.27B | $1.62B | $1.46B | $2.04B | $2.67B | — |
| Operating income | $414M | -$37.1M | $96.1M | — | — | — |
| Net income | $235M | -$259M | -$156M | $49.4M | $805M | $805M |
| EPS (diluted) | $1.45 | -$2.93 | -$1.84 | -$0.52 | $4.12 | — |
| Free cash flow | $99.0M | $198M | $199M | $193M | -$1.02B | -$1.02B |
| Gross margin | 38.2% | 31.4% | 30.9% | 35.2% | 37.5% | — |
| Operating margin | 12.5% | -0.7% | 2.0% | — | — | — |
| Net margin | 7.1% | -5.0% | -3.3% | 0.8% | 11.3% | 11.3% |
| Revenue growth | +6.8% | +55.6% | -8.8% | +23.4% | +22.5% | — |
| Cash + short-term investments | $2.58B | $821M | $926M | $909M | $1.99B | — |
| Total debt | $2.30B | $4.31B | $4.10B | $3.69B | $3.22B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Jun 2026 95.7x, Jun 2025 279.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
4 of 80 tracked investors hold COHR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Van Den Berg Management I |  | 3.50% | $16.6M | Reduced -34.9% |
| Dodge & Cox Funds | Dodge & Cox | 0.11% | $215M | Reduced -2.6% |
| Lee Ainslie | Maverick Capital | 0.01% | $914K | Reduced -66.3% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $1.3M | Reduced -29.8% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
7 of 11 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-11 | Digirolomo Enrico | Director | 5,315 | $1.6M | 33.3% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-09 | Beard Robert P | Chief Strategy & Legal Officer | 500 | $155K | 1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02 | Neal-Graves Lisa | Director | 2,200 | $591K | 14.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-31…2026-09-01 | Eng Julie Sheridan | Chief Technology Officer | 13,077 | $3.6M | 24.2% | Yes (adopted November 21, 2025) | Too little history (no open-market trades in 2024) |
| 2026-08-31 | Digirolomo Enrico | Director | 2,272 | $629K | 11.6% | Yes (adopted November 21, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-31 | Skaggs Stephen A | Director | 2,272 | $629K | 13.5% | Yes (adopted December 3, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-18 | Luther Sherri R | Chief Financial Officer | 3,000 | $972K | 4.4% | Yes (adopted November 13, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-22 | Luther Sherri R | Chief Financial Officer | 1,000 | $307K | 1.5% | Yes (adopted November 13, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-12 | Luther Sherri R | Chief Financial Officer | 2,000 | $746K | 2.8% | Yes (adopted November 13, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11 | Xia Howard H. | Director | 2,000 | $709K | 3.8% | No | Routine (sold in Dec each year 2023–2025; this trade is outside those months) |
| 2026-04-22 | Luther Sherri R | Chief Financial Officer | 2,000 | $702K | 2.8% | Yes (adopted November 13, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Susquehanna | Target lowered | Positive | $425 → $350 |
| 2026-10-19 | TD Cowen | Target lowered | Buy | $395 → $275 |
| 2026-10-15 | B. Riley Securities | Target lowered | Neutral | $345 → $297 |
| 2026-10-13 | Rosenblatt | Maintained | Buy | $500 |
| 2026-09-30 | Bernstein | Initiated | Outperform | $350 |
| 2026-09-24 | Rosenblatt | Maintained | Buy | $500 |
| 2026-09-01 | Deutsche Bank | Initiated | Buy | $400 |
| 2026-08-13 | Jefferies | Target raised | Buy | $375 → $420 |
| 2026-08-13 | Morgan Stanley | Target raised | Equal-Weight | $330 → $375 |
| 2026-08-13 | B. Riley Securities | Target raised | Neutral | $309 → $345 |
| 2026-08-13 | Rosenblatt | Target raised | Buy | $425 → $500 |
| 2026-08-13 | Needham | Target raised | Buy | $380 → $420 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +71.0% | +254.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +71.3% | +28.7% |
| Volatility (annualized) | 88.5% | 63.9% |
| Max drawdown | -51.3% (Jun 2026→Oct 2026) | -62.1% (Mar 2022→May 2023) |

## Peers (Scientific & Technical Instruments)
GRMN (Garmin Ltd.) USD 295.4 +1.47% · KEYS (Keysight Technologies Inc.) USD 311.52 -8.74% · TDY (Teledyne Technologies Incorpora) USD 620.47 -1.53% · FTV (Fortive Corporation) USD 60.05 +2.40% · MKSI (MKS Inc.) USD 196.11 -9.25% · TRMB (Trimble Inc.) USD 64.01 +2.27%

## More
Full page: https://nexqual.com/COHR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name COHR in their own reports (relationship from COHR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | Fabrinet (FN) | 10-K 2026-08-18 | "Our customized optics and glass operations face competition from companies such as CASTECH Inc., Excelitas Technologies Corp. and Photop Technologies, Inc. (a subsidiary of Coherent Corp.)." |
| partner | POET TECHNOLOGIES INC. (POET) | 20-F 2026-03-31 | "2023 and established "SiC LLC," a subsidiary of Coherent Corp., through strategic partnerships with Denso and Mitsubishi," |
| competitor | MKS INC (MKSI) | 10-K 2026-02-24 | "Coherent Corp., Excelitas Technologies Corp., Jenoptik AG and Thorlabs, Inc. offer products that compete with our laser and photonics products." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.97 | $1.77 | +10.9% | $2.30B | 20 |
| Next quarter (ends 2026-12-31) | $2.20 | $1.96 | +12.1% | $2.54B | 20 |
| Current fiscal year (ends 2027-06-30) | $9.39 | $8.29 | +13.2% | $10.62B | 24 |
| Next fiscal year (ends 2028-06-30) | $13.92 | $13.21 | +5.3% | $14.68B | 21 |