Coherent
Builds optical networking products, industrial lasers, and engineered photonic materials.
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Profile
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
Key statistics
Year to date +43.6% · Average volume (30d) 6.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 13, 2026 | Stifel Nicolaus | Target | $412 | $420 | |
| Aug 13, 2026 | Raymond James | Reiterate | Strong Buy | $435 | $448 |
| Aug 13, 2026 | Needham | Reiterate | Buy | $190 | $420 |
| Aug 13, 2026 | Jefferies | Reiterate | Buy | $420 | |
| Jul 2, 2026 | Raymond James | Reiterate | Strong Buy | $371 | $435 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 12, 2026Q4 FY26 | $1.62 | $1.74 | +7.4% | $1.98B | $2.05B | +3.1% | −7.99% |
| May 6, 2026Q3 FY26 | $1.41 | $1.41 | 0.0% | $1.78B | $1.81B | +1.3% | −7.39% |
| Feb 4, 2026Q2 FY26 | $1.21 | $1.29 | +6.6% | $1.64B | $1.69B | +2.7% | −0.83% |
| Nov 5, 2025Q1 FY26 | $1.04 | $1.16 | +11.5% | $1.55B | $1.58B | +1.7% | +18.32% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | $1.53B | $1.58B | $1.69B | $1.81B | $2.05B | |
| Gross profit | $527.7M | $560.1M | $579.2M | $622.8M | $679.9M | $787.0M | |
| Operating income | $145.5M | $159.0M | $172.2M | $198.6M | $148.6M | $253.8M | |
| Net income | $15.7M | −$95.6M | $226.3M | $146.7M | $191.3M | $240.5M | |
| Diluted EPS | −$0.11 | −$0.83 | $1.19 | $0.76 | $0.97 | $1.19 | |
| Gross margin | 35.2% | 36.6% | 36.6% | 36.9% | 37.7% | 38.5% | |
| Operating margin | 9.7% | 10.4% | 10.9% | 11.8% | 8.2% | 12.4% |
Fiscal years (4-quarter sums)FY22 $3.32B · FY23 $5.16B · FY24 $4.71B · FY25 $5.81B · FY26 $7.12B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $1.99B · Total debt $3.54B · Total assets $18.30B · Shareholders' equity $10.90B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 195.64M · Float 186.92M · 95.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 16.61M | 8.49% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 12.77M | 6.53% | 13F | Aug 13, 2026 |
| FMR LLC | 11.01M | 5.63% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 10.02M | 5.12% | 13F | Aug 13, 2026 |
| State Street Corp | 8.59M | 4.39% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Sherri R. Luther | officer: Chief Financial Officer | −3,000 | $324.00 |
| Jul 22, 2026 | Sherri R. Luther | officer: Chief Financial Officer | −1,000 | $306.68 |
| May 12, 2026 | Sherri R. Luther | officer: Chief Financial Officer | −2,000 | $372.96 |
| May 11, 2026 | Howard H. Xia | director | −2,000 | $354.50 |
| Apr 22, 2026 | Sherri R. Luther | officer: Chief Financial Officer | −2,000 | $351.00 |
Peers
- 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.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Coherent | $279.00 | −0.02% | $54.62B | 67.9 | 29.8 | 7.7 | +33.7% |
| Lumentum | $895.00 | +0.03% | $69.63B | — | 41.5 | 23.1 | +136.7% |
| Ciena | $379.00 | +0.24% | $53.57B | 126.1 | 48.3 | 9.6 | +39.5% |
| MKS | $256.50 | +0.31% | $17.28B | 40.8 | 16.3 | 4.0 | +28.3% |
| IPG Photonics | $76.53 | +0.01% | $3.25B | 117.7 | 40.4 | 3.0 | +11.1% |
| Wolfspeed | $25.65 | −0.70% | $1.34B | — | — | 2.0 | −24.1% |
| ON Semiconductor | $72.80 | +0.29% | $28.27B | 46.5 | 18.6 | 4.6 | +9.2% |
| Median | 82.1 | 40.4 | 4.3 | +19.7% |