Coherent (COHR)
Builds optical networking products, industrial lasers, and engineered photonic materials.
Something off on this page? Send us feedback.
Sells optical transceivers, transport systems, semiconductor lasers, industrial laser systems, specialty materials, and related components across its Datacenter and Communications segment and its Industrial segment. Most revenue now comes from datacenter and communications products, making AI infrastructure spending and high-volume manufacturing execution central to the business.
Develops and manufactures photonic components, modules, systems, and engineered materials through its Datacenter and Communications segment and its Industrial segment. The first supplies optical transceivers, transport equipment, optics, and semiconductor devices for AI datacenters, data-center interconnects, and telecom networks. The second provides lasers, components, and materials for semiconductor and display equipment, precision manufacturing, life sciences, consumer electronics, scientific research, and automotive applications.
Vertically integrates specialty-material growth, semiconductor lasers, passive optics, modules, and systems across a manufacturing and research footprint spanning North America, Europe, and Asia. That breadth supports volume production and customized solutions, while recent divestitures removed the aerospace-and-defense operation and a Munich materials-processing division. Demand is increasingly concentrated in datacenter connectivity, tying expansion to cloud infrastructure spending, manufacturing ramps, and cross-border trade controls.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Oppenheimer | Upgrade | ||
| Aug 31, 2026 | Deutsche Bank | Initiate | Rating: —Target: $50 | Target: $400 |
| Aug 13, 2026 | Stifel Nicolaus | Target | Target: $412 | Target: $420 |
| Aug 13, 2026 | Raymond James | Reiterate | Rating: —Target: $435 | Target: $448 |
| Aug 13, 2026 | Needham | Reiterate | Rating: —Target: $190 | Target: $420 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.99B · Total debt $3.54B · Total assets $18.30B · Shareholders' equity $10.90B
- Revenue
- $2.05B
- Operating income
- $253.8M
- Net income
- $240.5M
No dividends on record.
| Institutions | 88.13% | 172.60M shares | |
|---|---|---|---|
| 1,380 holders · as of Jun 30, 2026 | |||
| Insiders | 0.47% | 920.1K shares | |
| 21 holders · as of Sep 15, 2026 | |||
| Other | 11.40% | 22.32M shares | |
| remainder | |||
195.83M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.48% | 16.61M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.52% | 12.77M | as of Jun 30, 2026 |
FMR LLCInstitution | 5.62% | 11.01M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.11% | 10.02M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.39% | 8.59M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | Enrico Digirolomo | director | −5,315 | $305.99 |
| Sep 9, 2026 | Robert P. Beard | officer: Chief Strategy & Legal Officer | −500 | $309.32 |
| Sep 2, 2026 | Lisa Neal-Graves | director | −2,200 | $268.42 |
| Aug 31, 2026 | Stephen A. Skaggs | director | −2,272 | $276.88 |
| Aug 31, 2026 | Enrico Digirolomo | director | −2,272 | $276.85 |
- Lumentum
Closest peer in transceivers, EMLs, VCSELs, ROADMs, and OCS for AI datacenters.
- Ciena
Leader in coherent optical networking and WaveLogic pluggable transceivers.
- MKS
Laser systems rival via Spectra-Physics and Newport; 2021 acquisition rival.
- IPG Photonics
World's largest fiber-laser maker; direct competitor in materials processing.
- Wolfspeed
Pure-play SiC pioneer; competes in substrates and power devices alongside COHR.
- ON Semiconductor
Top-3 SiC power device maker; EliteSiC modules for EV and industrial power.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Coherent | $309.70 | −3.68% | $62.90B | 78.2 | 33.1 | 8.8 | +33.7% |
| Lumentum | $958.22 | +0.39% | $74.26B | — | 44.4 | 24.6 | +109.3% |
| Ciena | $370.69 | +1.29% | $51.80B | 81.7 | 35.8 | 8.6 | +37.0% |
| MKS | $255.04 | −0.73% | $17.35B | 41.0 | 16.3 | 4.0 | +28.3% |
| IPG Photonics | $78.06 | +0.39% | $3.30B | 119.6 | 41.2 | 3.1 | +11.1% |
| Wolfspeed | $28.23 | +1.88% | $1.44B | — | — | 2.2 | −24.1% |
| ON Semiconductor | $72.66 | +1.32% | $27.92B | 46.0 | 18.6 | 4.5 | +9.2% |
| Median | 63.8 | 35.8 | 4.2 | +19.7% |