Rokos Capital Management 13F: Cuts Coherent (COHR) Stake by $48M
Institutional filing data reveals Rokos Capital Management trimmed its holdings in Coherent Corp. during the latest reporting period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Rokos Capital Management sold 122,081 shares from its stake in Coherent Corp. ($COHR), a 33.17% decrease, according to a 13F filing with the SEC dated May 15, 2026. It reported 245,957 shares worth $97.02 million at the end of the quarter.
Since the filing, $COHR is down 1.3% after 1 week, up 8.2% after 1 month and down 39.1% to date (from the $382.45 close on May 15, 2026).
Find the original: Rokos Capital Management 13F filings on SEC EDGAR
COHR
Coherent Corp.
Key Points
- Rokos Capital Management trimmed its investment in Coherent Corp. (NYSE:COHR) by 33.2%, selling 122,081 shares to bring its ending stake to 245,957 shares.
- The remaining holding carried an estimated market value of about $97.0 million at the close of the filing period.
- Wall Street firms maintain an active view on the laser and optical systems maker, backed by a consensus buy recommendation and a mean target price of $410.43.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Coherent Corp. alert may contain errors. Disclosures
Rokos Capital Management Trims Coherent Holdings
Rokos Capital Management reduced its exposure to Coherent Corp. (NYSE:COHR) during the quarter ended May 15, 2026, according to a Form 13F filed with the SEC. The fund sold 122,081 shares, marking a 33.1% decrease from its prior holdings. Institutional filings like this one reflect positions held at the close of the reporting period and may not represent the investor's current position today.
Trimming the Position Size
Before the adjustment, Rokos Capital Management owned 368,038 shares of the scientific and technical instruments maker. The sale of 122,081 shares left the fund with 245,957 shares. Based on valuations tied to the filing period, the remaining stake held a value of roughly $97.0 million. The fund's action sits alongside other portfolio adjustments made by the institution during the same reporting window, such as taking new positions in Valero Energy and SLB N.V.
Coherent Stock Trading Dynamics
Coherent shares trade on the NYSE, changing hands around $394.47. The stock moves within a 52-week range defined by a low of $112.96 and a high of $440.00. Moving averages place the price well above the 50-day mark of $301.87 and the 200-day mark of $294.28. The company carries a market capitalization of roughly $49.3 billion and features a forward P/E ratio of 17.8.
Recent Earnings Performance
Coherent reported financial results showing total revenue of $7.11 billion alongside a revenue growth rate of 33.7%. Profitability metrics include a net margin of 11.3% and a return on equity of nearly 8.0%. Earnings per share stand at $4.12, while the company's trailing P/E ratio sits at 60.8. Investors look toward the company's next earnings report scheduled for November 4, 2026, for updates on datacenter demand and component sales.
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.
Analysts Set New Price Targets
Wall Street firms continue to update their views on the optical systems provider. On October 15, 2026, B. Riley Securities maintained its Neutral rating while lowering its price target from $345.00 to $297.00. Earlier, on October 13, 2026, Rosenblatt reiterated a Buy rating with a target of $500.00. Bernstein initiated coverage on September 30, 2026, with an Outperform rating and a $350.00 target, while Deutsche Bank started coverage on September 1, 2026, with a Buy rating and a $400.00 target. Across the broader analyst community, 23 opinions contribute to a consensus buy recommendation and a target mean price of $410.43.
Business Operations at Coherent
Headquartered in Saxonburg, Pennsylvania, Coherent Corp. develops and manufactures lasers, optical transceivers, and advanced optoelectronic systems for industrial, datacenter, and communications customers. The company serves clients worldwide with engineered materials and precision manufacturing tools. This event highlights how large investment managers recalibrate technology holdings as market valuations shift across the sector.
What to Watch at Coherent Corp.
Market participants tracking Rokos Capital Management will review subsequent quarterly disclosures to see whether the fund continues to pare its technology exposure or stabilizes its stake. Coherent's upcoming earnings release in November will provide deeper operational insight into its datacenter and communications segments.
Related Filing Alerts
Source: Rokos Capital Management's 13F filing on $COHR (May 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Rokos Capital Management 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts