Gotham Asset Management Reduces $8M in Coherent Corp. ($COHR)
Gotham Asset Management cut its holdings in Coherent Corp. by 13.8% in the latest quarter.
Key Points
- Gotham Asset Management reduced its Coherent Corp. stake by 13.8%, selling 18,860 shares to hold 118,031 shares worth $48.8 million.
- Coherent Corp., trading at $413.84, has a market cap of $80.96 billion and a P/E ratio of 196.13.
- Insiders, including CEO James Robert Anderson, sold shares recently, with analysts maintaining buy ratings and price targets between $395 and $455.
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Gotham Asset Management has trimmed its position in Coherent Corp. (NYSE: COHR), cutting its holdings by 13.8%. The fund sold 18,860 shares, leaving it with 118,031 shares valued at approximately $48.8 million as of its recent SEC filing on May 15, 2026.
What Changed in Gotham Asset Management's Coherent Corp. Position
Gotham Asset Management reduced its stake in Coherent Corp. from 136,891 shares to 118,031 shares, a decrease of 18,860 shares. This move represents a 13.8% reduction in its holdings, aligning with a reported value of $48.8 million.
Other Institutional Activity in Coherent Corp.
Several other funds also adjusted their positions in Coherent Corp. FMR LLC reduced its holdings by 946,136 shares, ending with 22,660,867 shares valued at about $5.4 billion. In contrast, BlackRock, Inc. added 499,098 shares, reaching a total of 14,952,975 shares worth around $3.56 billion. Vanguard Capital Management LLC and Vanguard Portfolio Management LLC both increased their positions significantly, with final share counts of 12,179,609 and 9,459,601 shares, respectively. State Street Corp also increased its holdings by 3,031,466 shares to 7,747,916 shares, valued at approximately $1.85 billion.
Coherent Corp. Stock Up 45.9%
Shares of Coherent Corp. (NYSE: COHR) are trading near $413.84. The company has a market capitalization of about $80.96 billion and a P/E ratio of 196.13. Its beta stands at 2.054, suggesting higher volatility compared to the market. The stock's 52-week range is between $77.84 and $440.00, with a 50-day moving average of $350.02 and a 200-day moving average of $219.51.
$COHR stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Coherent Corp. reported revenue of $6.6 billion, with a revenue growth rate of 20.5%. The company achieved an EPS of $2.11, a net margin of 7.1%, and a return on equity of 4.7%. The next earnings report is scheduled for August 12, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS missed estimates by 1.1%. Revenue missed estimates by 0.5%.
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Profit surprise
EBITDA missed by 59 percent. Operating income missed by 63 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
3 target raises.
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Earnings quality
Gross margin up 2.4 points. Operating margin down 1.5 points. Positive free cash flow.
Earnings Call Summary
Coherent reported $1.81 billion in revenue for the first quarter, up 19 percent year over year on a pro forma basis. The company is experiencing record orders and exceptionally strong demand across its datacenter and communications businesses, driven by AI data center expansion and optical networking adoption. Management is aggressively ramping indium phosphide laser production capacity at two sites and expects to double capacity over the next year, with six-inch production yields exceeding three-inch lines.
Guidance Management expects second quarter revenue between $1.56 billion and $1.7 billion, with datacom growing 10 percent sequentially from supply improvement. Gross margin is projected between 38 and 40 percent, and EPS between $1.10 and $1.30 per share.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Insider Buying and Selling at Coherent Corp.
Recent insider transactions at Coherent Corp. include CEO James Robert Anderson selling 25,836 shares on June 3, 2026, at an average price of $426.89. Chief Financial Officer Sherri Luther sold 2,000 shares on May 12, 2026, at $372.96 under a planned sale. Additionally, Howard Xia sold 2,000 shares on May 11, 2026, at $354.50 and bought 2,000 shares at $21.67 on the same day.
Analysts Set New Price Targets
Analysts have set new price targets for Coherent Corp. On May 7, 2026, TD Cowen and Rosenblatt maintained buy ratings with price targets of $395 and $425, respectively. Stifel also maintained a buy rating with a $412 target on May 5, 2026. The consensus among analysts is a buy recommendation, with an average target price of $384.45 across 22 analyst opinions.
About Coherent Corp.
Coherent Corp., headquartered in Saxonburg, Pennsylvania, is a leader in the technology sector, focusing on scientific and technical instruments. The company develops and markets engineered materials, optoelectronic components, and laser systems. It operates through three main segments: Networking, Materials, and Lasers, serving various markets worldwide. Coherent Corp. was formerly known as II-VI Incorporated before rebranding in September 2022.
Bottom Line
Gotham Asset Management's reduction in Coherent Corp. shares reflects a strategic move, though the company remains a significant player in its portfolio. Investors often track such filings to gauge institutional sentiment, but it's important to remember that these filings are historical and may not represent current positions. Coherent Corp.'s robust market presence and ongoing analyst support highlight its continued relevance in the technology sector.
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