Lumida
/COHR
⌘K
Coherent Corp

Coherent Corp

COHR
$277.60USD↑+0.23%+0.64 today

MARKET CAP

54.3B

P/E (TTM)

57.1x

FWD P/E

34.6x

DAY RANGE

$255 – $285

52W RANGE

$84
$440

AI Summary

Stalk
TrimMedium

COHR is in a Stage 4 decline characterized by a clear sequence of lower highs and lower lows, with declining EMAs acting as dynamic resistance. Price is currently extended below the 9, 20, and 50 EMAs and is testing the 200 DMA after an extreme oversold washout, showing exhaustion but no decisive reversal yet. Despite the long-term uptrend intact above the 200 DMA, the medium-term tradable side remains bearish. Execution should be deferred until rallies into the declining EMA resistance zone, consistent with a high momentum strategy seeking clean sell entries.

  • ↑Q3 revenue up 21% YoY to $1.8B on AI and comms demand.
  • ↑Operating margin expanded to 20.3% vs 19.9% in Q2.
  • ↓Earnings yield is negative, pointing to stretched valuation metrics.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Coherent Corp (NASDAQ: COHR) is a leading player in the photonics sector, specializing in innovative laser and optical solutions utilized in various high-growth industries, notably AI data centers, communications, and industrial applications. The company’s advanced product offerings, particularly in transceivers and lasers, position it favorably amidst the growing demand for high-speed optical data transmission and energy efficiency, driven predominantly by advancements in artificial intelligence.

Bull says

  • ↑Q3 revenue up 21% YoY to $1.8B on AI and comms demand.
  • ↑Operating margin expanded to 20.3% vs 19.9% in Q2.
  • ↑Backlog through 2028 ensures sustained revenue visibility.
  • ↑Indium phosphide capacity set to double by 2027, boosting supply.
  • ↑NVIDIA partnership and $3B cash buffer support growth.
  • ↑EPS $1.41 (+55% YoY) and 39.6% gross margin fuel momentum.

Bear says

  • ↓Earnings yield is negative, pointing to stretched valuation metrics.
  • ↓GuruFocus fair value ~$84 vs current price, risking downside.
  • ↓Volatility remains high, adding to recent 5.3% share drop.
  • ↓Indium phosphide supply constraints threaten margins amid rising costs.
  • ↓QS score suggests financial instability amid macro/regulatory risks.
  • ↓CapEx rose to $290M, pressuring free cash flow yields.

Investment themes with COHR

Networking & Connectivity Infrastructure↓ -0.79%

AVGO · ANET · MRVL
Robotics↑ +0.20%

Robotics and automation technology companies

JBTM · SMCAY · AZTA
Communication Equipment↓ -0.68%

Networking and telecom hardware providers

UI · EXTR · ADTN
Defense Tech↑ +0.63%

ONDS · EH · UMAC

Earnings Call · Q3 2026 · Mgmt. Guidance

Updated 05-08-2026bullish

Transcript signals

Bull points

  • Coherent is a global leader in photonic technology, which is foundational to the performance and scalability of AI data centers and critical to many important industrial applications.
  • We are at the center of an extraordinary expansion in optical networking infrastructure, driven by the rapid growth of AI and the increasing need for bandwidth and energy efficiency.
  • Importantly, we are seeing continued strengthening in demand across our business. This quarter, we experienced another step function increase in our order book, driving our backlog to a record level.
Read full transcript analysis ›