COHERENT CORP.
COHR · Optical Instruments & Lenses · 195.6M shares · +17%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$147M (gross $2M, SBC $149M)
Reference price $372.96 · est. market cap ~$73.0B — last insider sale, 2026-05-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Photonics/laser maker growing fast on AI-datacom transceivers but only marginally profitable, with leverage.
Strengths
- Strong revenue growth — +23.4% (73rd) on AI-datacom demand
- Positive free cash flow — FCF $192.8M (61st)
Risks
- Barely profitable — net margin 0.8% (41st), ROE 0.9%; net income -131.6% comparison
- Low gross margin and leverage — gross margin 35.2% (23rd), D/E 0.62 (71st)
- Heavy R&D/capex needs and integration of past acquisitions — qualitative (per 10-K)
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +17%/yr over 3y (dilution, book value/share -4%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $909M cash & investments
- AccumulatingInstitutional holders rose 17→20 QoQ (2025-12-31→2026-03-31)
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 15 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$7M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
0.9%
Return on assets
0.3%
Revenue growth (QoQ)
7.1%
Debt / equity
0.6×
Current ratio
2.2×
Free cash flow
$193M
Tangible book value
-$2.0B
Cash & investments
$909M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | ANDERSON JAMES ROBERT | Tax withheld | 26K | $426.89 |
| 2026-05-12 | Luther Sherri R | Sell | 2.0K | $372.96 |
| 2026-05-11 | Xia Howard H. | Sell | 500 | $358.00 |
| 2026-05-11 | Xia Howard H. | Sell | 500 | $344.00 |
| 2026-05-11 | Xia Howard H. | Sell | 500 | $368.00 |
| 2026-05-11 | Xia Howard H. | Option exercise | 2.0K | $21.67 |
| 2026-05-11 | Xia Howard H. | Sell | 500 | $348.00 |
| 2026-04-22 | Luther Sherri R | Sell | 2.0K | $351.00 |
| 2026-03-17 | Xia Howard H. | Sell | 1.0K | $245.57 |
| 2026-03-17 | Xia Howard H. | Option exercise | 3.2K | $21.67 |
| 2026-03-17 | Xia Howard H. | Sell | 1.0K | $244.46 |
| 2026-03-17 | Xia Howard H. | Sell | 1.2K | $236.22 |
| 2026-03-16 | Xia Howard H. | Sell | 1.0K | $258.00 |
| 2026-03-16 | Xia Howard H. | Option exercise | 1.0K | $21.67 |
| 2026-03-10 | Eng Julie Sheridan | Sell | 1.5K | $258.18 |
| 2026-03-09 | SKAGGS STEPHEN A | Sell | 3.5K | $243.13 |
| 2026-03-06 | Digirolomo Enrico | Sell | 3.9K | $241.50 |
| 2026-03-06 | Digirolomo Enrico | Gift | 1.8K | — |
| 2026-03-02 | Eng Julie Sheridan | Sell | 2.8K | $291.42 |
| 2026-02-12 | Luther Sherri R | Sell | 4.0K | $217.74 |
| 2026-02-11 | SADASIVAM SHAKER | Grant | 279 | — |
| 2026-02-11 | Xia Howard H. | Grant | 279 | — |
| 2026-02-11 | VIJ SANDEEP | Grant | 279 | — |
| 2026-02-11 | STERLING MICHELLE M | Grant | 279 | — |
| 2026-02-11 | SKAGGS STEPHEN A | Grant | 279 | — |
| 2026-02-11 | Patrick Elizabeth | Grant | 279 | — |
| 2026-02-11 | Neal-Graves Lisa | Grant | 279 | — |
| 2026-02-11 | Hatter Patricia | Grant | 279 | — |
| 2026-02-11 | MOTLEY DAVID L | Grant | 279 | — |
| 2026-02-11 | Dreyer Michael L | Grant | 279 | — |
| 2026-02-11 | Digirolomo Enrico | Grant | 279 | — |
| 2026-02-11 | CORASANTI JOSEPH J | Grant | 279 | — |
| 2025-12-10 | CORASANTI JOSEPH J | Sell | 15K | $196.74 |
| 2025-12-03 | STERLING MICHELLE M | Sell | 2.0K | $164.51 |
| 2025-12-02 | Xia Howard H. | Sell | 1.0K | $172.00 |
| 2025-12-02 | Xia Howard H. | Option exercise | 2.0K | $21.67 |
| 2025-12-02 | Xia Howard H. | Sell | 1.0K | $168.00 |
| 2025-12-01 | Mocciaro Ilaria | Sell | 1.4K | $162.71 |
| 2025-11-28 | Xia Howard H. | Option exercise | 1.0K | $21.67 |
| 2025-11-28 | Xia Howard H. | Sell | 1.0K | $158.36 |
| 2025-11-21 | Digirolomo Enrico | Sell | 2.8K | $134.85 |
| 2025-11-20 | SKAGGS STEPHEN A | Sell | 2.0K | $150.00 |
| 2025-11-14 | Dreyer Michael L | Sell | 12K | $144.88 |
| 2025-11-10 | BAIN CAPITAL INVESTORS LLC | Other | 254K | — |
| 2025-11-07 | CORASANTI JOSEPH J | Option exercise | 4.0K | $49.90 |
| 2025-11-07 | BAIN CAPITAL INVESTORS LLC | Conversion | 7.8M | — |
| 2025-11-07 | BAIN CAPITAL INVESTORS LLC | Sell | 7.5M | $143.37 |
| 2025-11-07 | CORASANTI JOSEPH J | Option exercise | 5.7K | $35.25 |
| 2025-11-07 | CORASANTI JOSEPH J | Sell | 9.7K | $151.25 |
| 2025-11-06 | BARBAROSSA GIOVANNI | Sell | 61K | $160.00 |
| 2025-10-29 | BARBAROSSA GIOVANNI | Option exercise | 15K | $35.25 |
| 2025-10-29 | BARBAROSSA GIOVANNI | Option exercise | 18K | $49.90 |
| 2025-10-29 | BARBAROSSA GIOVANNI | Option exercise | 27K | $36.56 |
| 2025-10-29 | BARBAROSSA GIOVANNI | Sell | 48K | $140.46 |
| 2025-10-29 | BARBAROSSA GIOVANNI | Sell | 12K | $141.10 |
| 2025-10-29 | SKAGGS STEPHEN A | Sell | 2.0K | $140.00 |
| 2025-10-24 | SKAGGS STEPHEN A | Sell | 2.0K | $130.00 |
| 2025-10-21 | Beard Robert P | Tax withheld | 5.6K | $120.20 |
| 2025-10-11 | Luther Sherri R | Tax withheld | 19K | $111.10 |
| 2025-08-29 | Eng Julie Sheridan | Sell | 200 | $93.54 |
| 2025-08-29 | Eng Julie Sheridan | Sell | 300 | $92.66 |
| 2025-08-29 | Eng Julie Sheridan | Sell | 1.3K | $91.06 |
| 2025-08-29 | Eng Julie Sheridan | Sell | 5.3K | $90.36 |
| 2025-08-28 | BARBAROSSA GIOVANNI | Grant | 18K | — |
| 2025-08-28 | PAGLIUCA STEPHEN G | Grant | 2.3K | — |
| 2025-08-28 | Luther Sherri R | Grant | 16K | — |
| 2025-08-28 | Beard Robert P | Grant | 14K | — |
| 2025-08-28 | Eng Julie Sheridan | Grant | 14K | — |
| 2025-08-28 | Eng Julie Sheridan | Grant | 4.4K | — |
| 2025-08-28 | Eng Julie Sheridan | Tax withheld | 6.7K | $90.71 |
| 2025-08-28 | ANDERSON JAMES ROBERT | Grant | 68K | — |
| 2025-08-28 | Mocciaro Ilaria | Grant | 4.1K | — |
| 2025-08-28 | Mocciaro Ilaria | Tax withheld | 1.0K | $90.71 |
| 2025-08-28 | BARBAROSSA GIOVANNI | Grant | 12K | — |
| 2025-08-28 | BARBAROSSA GIOVANNI | Tax withheld | 21K | $90.71 |
| 2025-08-28 | CORASANTI JOSEPH J | Grant | 2.3K | — |
| 2025-08-28 | VIJ SANDEEP | Grant | 2.3K | — |
| 2025-08-28 | SKAGGS STEPHEN A | Grant | 2.3K | — |
| 2025-08-28 | SADASIVAM SHAKER | Grant | 2.3K | — |
| 2025-08-28 | Hatter Patricia | Grant | 2.3K | — |
| 2025-08-28 | STERLING MICHELLE M | Grant | 2.3K | — |
| 2025-08-28 | Dreyer Michael L | Grant | 2.3K | — |
| 2025-08-28 | Neal-Graves Lisa | Grant | 2.3K | — |
| 2025-08-28 | Xia Howard H. | Grant | 2.3K | — |
| 2025-08-28 | Digirolomo Enrico | Grant | 2.3K | — |
| 2025-08-28 | MOTLEY DAVID L | Grant | 2.3K | — |
| 2025-08-28 | Patrick Elizabeth | Grant | 2.3K | — |
| 2025-08-13 | SKAGGS STEPHEN A | Sell | 2.0K | $122.23 |
| 2025-07-17 | Koeppen Christopher | Sell | 3.1K | $100.00 |
| 2025-07-16 | Koeppen Christopher | Sell | 1.2K | $96.91 |
| 2025-07-16 | Koeppen Christopher | Sell | 1.2K | $97.80 |
| 2025-07-16 | Koeppen Christopher | Sell | 500 | $94.59 |
| 2025-07-16 | Koeppen Christopher | Sell | 2.6K | $95.99 |
| 2025-06-16 | Xia Howard H. | Option exercise | 1.0K | $17.84 |
| 2025-06-16 | Xia Howard H. | Sell | 1.0K | $80.88 |
| 2025-06-11 | Xia Howard H. | Option exercise | 1.0K | $17.84 |
| 2025-06-11 | Xia Howard H. | Sell | 1.0K | $83.00 |
| 2025-06-03 | ANDERSON JAMES ROBERT | Tax withheld | 26K | $76.78 |
| 2025-06-03 | SADASIVAM SHAKER | Option exercise | 9.2K | $21.67 |
| 2025-06-03 | SADASIVAM SHAKER | Option exercise | 5.7K | $35.25 |
| 2025-06-03 | SADASIVAM SHAKER | Option exercise | 4.0K | $49.90 |
| 2025-06-03 | SADASIVAM SHAKER | Option exercise | 5.8K | $36.56 |
| 2025-06-03 | SADASIVAM SHAKER | Sell | 29K | $80.00 |
| 2025-05-28 | Neal-Graves Lisa | Sell | 1.2K | $79.65 |
| 2025-05-21 | Xia Howard H. | Option exercise | 1.0K | $17.84 |
| 2025-05-21 | Xia Howard H. | Sell | 1.0K | $81.00 |
| 2025-05-13 | Koeppen Christopher | Option exercise | 6.2K | $36.56 |
| 2025-05-13 | Koeppen Christopher | Sell | 6.2K | $80.00 |
| 2025-05-13 | Koeppen Christopher | Sell | 2.6K | $80.00 |
| 2025-05-13 | Koeppen Christopher | Sell | 2.5K | $80.00 |
| 2025-05-12 | Xia Howard H. | Option exercise | 2.0K | $17.84 |
| 2025-05-12 | Xia Howard H. | Sell | 1.0K | $78.00 |
| 2025-05-12 | Xia Howard H. | Sell | 1.0K | $76.84 |
| 2025-05-09 | Xia Howard H. | Option exercise | 1.0K | $17.84 |
| 2025-05-09 | Xia Howard H. | Sell | 1.0K | $72.69 |
| 2025-02-28 | Eng Julie Sheridan | Grant | 13K | — |
| 2025-02-28 | Mocciaro Ilaria | Tax withheld | 687 | — |
| 2025-02-26 | Neal-Graves Lisa | Gift | 580 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-06 | 2026-03-31 | 0000820318-26-000013 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001193125-26-208972 ↗ |
| 8-K | 2026-04-28 | 2026-04-27 | 0001193125-26-187297 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001193125-26-084366 ↗ |
| 10-Q | 2026-02-04 | 2025-12-31 | 0000820318-26-000006 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0001193125-26-037556 ↗ |
| 8-K | 2025-12-16 | 2025-12-16 | 0000820318-25-000024 ↗ |
| 8-K | 2025-11-21 | 2025-11-20 | 0001193125-25-290249 ↗ |
| 8-K | 2025-11-17 | 2025-11-13 | 0001193125-25-284011 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0000820318-25-000019 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001193125-25-266951 ↗ |
| 8-K | 2025-09-26 | 2025-09-26 | 0001193125-25-220656 ↗ |