Who Owns Coherent Company?

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Who Owns Coherent Corp.?

Understanding who owns a company is key to grasping its strategic direction and market influence. Coherent Corp.'s ownership structure has seen significant evolution, particularly following a major acquisition.

The current Coherent Corp. emerged from the 2022 acquisition of Coherent, Inc. by II-VI Incorporated, with the combined entity adopting the Coherent Corp. name. This pivotal event reshaped its ownership landscape.

Who owns Coherent Corp. today?

Coherent Corp., originally founded as II-VI Incorporated in 1971, has grown into a global leader in photonics and engineered materials. As of August 2025, its market capitalization stands at approximately $14.00 billion USD. The company's diverse product portfolio serves industries ranging from industrial applications to advanced electronics and communications, including solutions that might be detailed in a Coherent PESTEL Analysis.

The ownership of Coherent Corp. is primarily institutional, with major investment firms holding significant stakes. These institutional investors often influence corporate governance and strategic decisions through their voting power and board representation. Individual investors also contribute to the shareholder base, though typically in smaller proportions.

The Board of Directors plays a crucial role in overseeing the company's management and ensuring alignment with shareholder interests. Board members are typically elected by shareholders and bring diverse expertise in areas such as finance, technology, and industry operations. Their decisions directly impact Coherent Corp.'s path forward.

The ownership journey of the entity now known as Coherent Corp. began with II-VI Incorporated, established in 1971 by Carl Johnson and James Hawkey. Johnson, holding a Ph.D. in electrical engineering, co-founded the company in Saxonburg, Pennsylvania, focusing initially on materials for CO2 laser components, drawing its name from elements in the periodic table.

Founding Year

II-VI Incorporated was founded in 1971.

Founding Location

The company was established in Saxonburg, Pennsylvania.

Initial Focus

Early operations centered on materials for CO2 laser components.

Founder's Background

Carl Johnson had a Ph.D. in electrical engineering and prior experience at Bell Laboratories.

Early Products

The company manufactured lenses, windows, and mirrors for CO2 lasers.

IPO Milestone

An initial public offering (IPO) occurred in 1987.

During its private phase, specific early equity distributions among founders and initial backers are not detailed. However, a significant shift in ownership occurred with the company's initial public offering (IPO) in 1987. This public offering provided capital for expansion, particularly in zinc selenide production, and broadened the ownership base beyond the original founders and early investors, marking the first major transition in the company's control structure.

Early Ownership Transition

The transition from private to public ownership in 1987 diversified the shareholder base.

• The IPO in 1987 was a key event for Coherent Company ownership.
• This event allowed for significant capital infusion.
• Manufacturing capabilities were expanded, notably in zinc selenide.
• The IPO marked a shift in who owns Coherent.

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The ownership landscape of Coherent Corp. has seen a significant shift, primarily due to the acquisition of Coherent, Inc. by II-VI Incorporated in July 2022. This strategic move, valued between $6.56 billion and $7 billion, saw II-VI Incorporated, a company publicly traded since 1987, integrate Coherent, Inc. into its operations, subsequently adopting the Coherent Corp. name and its NYSE ticker symbol, COHR.

Coherent Corp.'s shareholding pattern as of early 2025 indicates a strong concentration of ownership within institutional investors, who collectively held approximately 92.51% of the company's shares. This dominance is exemplified by major holdings from entities like BlackRock, Inc. (10.63%) and The Vanguard Group, Inc. (10.20%), as of June 29, 2025. Other significant institutional players include FMR LLC, Invesco Ltd., Wellington Management Group LLP, State Street Corp, Point72 Asset Management, L.P., and Dodge & Cox. Notably, Bain Capital Fund XII, L.P. and Bain Capital, LP held a substantial combined stake of 17.95% as of March 4, 2024, a position likely linked to their prior investment to facilitate the initial acquisition. Insider ownership, representing executives and directors, constituted a smaller portion at about 1.22% as of January 2025. These substantial institutional stakes suggest a significant influence on the company's strategic direction and governance, reflecting a common trend in publicly traded companies where large asset managers are key stakeholders.

Understanding Coherent Company's Ownership Structure

The current ownership of Coherent Corp. is largely institutional, with a small percentage held by insiders. This structure highlights the significant influence of major financial institutions on the company's operations and strategic decisions.

• Majority ownership by institutional investors (over 92%).
• Key institutional shareholders include BlackRock and Vanguard.
• Bain Capital holds a significant stake stemming from prior investment.
• Insider ownership remains a minor percentage.
• The company is publicly traded on the NYSE under the ticker COHR.

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The Board of Directors at Coherent Corp. is instrumental in guiding the company's strategic direction and corporate governance. As of mid-2025, the board comprises a mix of experienced executives and industry leaders. The current CEO, Jim Anderson, also holds a position on the board, with Enrico DiGirolamo serving as the Board Chair.

Coherent Corp. operates under a standard one-share-one-vote system for its common stock, a common practice for companies listed on the NYSE. This structure allows shareholders to influence key corporate decisions, including the election of directors. For the 2024 Annual Meeting, five Class One directors were elected to serve three-year terms concluding in 2027. While specific details regarding dual-class shares or preferential voting rights are not extensively detailed in recent public filings, the presence of significant institutional investors and a representative from Bain Capital on the board indicates substantial influence from these major shareholders. There have been no prominent proxy contests or activist campaigns reported in the past year that have significantly altered the company's decision-making processes.

Understanding Coherent Company Ownership

Coherent Corporation's ownership structure is primarily influenced by its public trading status and the composition of its board. Understanding who owns Coherent is key to grasping its governance.

• The company follows a one-share-one-vote principle.
• Major institutional investors likely hold significant stakes.
• Bain Capital Private Equity, LP has a representative on the board.
• The board composition reflects integration from past acquisitions.
• Coherent Company is publicly traded on the NYSE.

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Coherent Corp.'s ownership landscape has significantly transformed over the past three to five years, primarily due to the 2022 acquisition of Coherent, Inc. by II-VI Incorporated, followed by a rebranding. This strategic move has reshaped the company's leadership and financial direction, with recent appointments and debt reduction efforts underscoring a new operational phase.

In terms of financial management, Coherent Corp. has actively worked to strengthen its capital structure. The company successfully reduced its total debt obligations from $4.1 billion in 2024 to $3.687 billion in 2025. This deleveraging was complemented by maintaining a robust cash position of $909 million as of June 30, 2025. A notable financial development in 2025 was the completion of a $1.0 billion investment agreement for its Silicon Carbide LLC subsidiary, which is expected to enhance financial flexibility and strategic positioning in critical materials markets.

Debt Reduction and Cash Position

Coherent Corp. reduced its total debt from $4.1 billion in 2024 to $3.687 billion in 2025. The company maintained a strong cash reserve of $909 million as of June 30, 2025.

Strategic Investment in Silicon Carbide

In 2025, a $1.0 billion investment agreement was finalized for the Silicon Carbide LLC subsidiary. This investment aims to bolster financial flexibility and strategic market positioning.

Institutional Ownership Dominance

As of January 2025, institutional investors held approximately 92.51% of Coherent Corp.'s shares. This high level of institutional ownership is typical in the technology sector, often correlating with increased governance oversight.

Insider Ownership and Future Growth Focus

Insider ownership stands at around 1.22% as of January 2025. The company is concentrating on strategic restructuring, cost optimization, and new product introductions, including advanced optics and 800G/1.6T transceivers, to drive growth. This aligns with their expansion of production capabilities for GaAs VCSELs and InP fabs, moving towards 6-inch wafer technology to meet demand in datacom and telecom sectors, as detailed in the Growth Strategy of Coherent.

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