Coherent Corp. (NYSE: COHR) ended Friday’s session with a sharp decline and remained weak in extended-hours trading as investors digested a major-shareholder filing and a broader pullback in AI-linked technology stocks. Below is what moved COHR after the bell on 12/12/2025, what fresh filings revealed, and what to keep on your radar before the next market open.
COHR stock price after the bell (12/12/2025): the key numbers
Coherent shares closed at $178.56, down $19.94 (-10.04%) by 3:59 p.m. Eastern on Friday, December 12, 2025. In extended trading, COHR was indicated around $177.45 as of 6:58 p.m. Eastern, down another $1.12 (-0.62%) from the regular-session close. [1]
The day’s trading action underscored how fast sentiment shifted:
- Day’s range: roughly $176.63 to $196.04 [2]
- Volume: about 6.93 million shares, well above the ~3.98 million average volume MarketBeat lists [3]
In other words: Friday wasn’t a quiet drift lower—it was a high-participation repricing.
The biggest COHR-specific headline on 12/12: Bain affiliate’s Schedule 13D/A confirms a massive block sale
The most important company-specific development dated 12/12/2025 was a Schedule 13D (Amendment No. 5) filed with the SEC, tied to an event dated 12/10/2025. [4]
What the SEC filing says (in plain English)
According to the filing:
- The reporting person converted 36,162 shares of Series B-2 Convertible Preferred Stock into 5,000,000 shares of common stock on December 10, 2025. [5]
- On the same date, it sold 5,000,000 shares in a Rule 144 block trade at $189.55 per share, for an aggregate value of $947,750,000. [6]
- After the reported transaction, the filing shows beneficial ownership of 9,775,846 shares (via remaining convertible preferred), representing 5.2% of the class as calculated in the document. [7]
- The filing also states the mandatory conversion of the Series B-2 preferred shares “will be effective on December 15, 2025.” [8]
Why markets often react negatively to this kind of filing
Even when a block trade is “clean” (i.e., executed in one shot with a broker), it can still pressure the stock because:
- Supply shock / overhang: A large seller increases perceived near-term supply—traders may worry there’s more selling coming.
- Signal risk: Fair or not, markets sometimes interpret sponsor selling as reduced conviction.
- Mechanical repositioning: Fast money often trades around secondaries, lockup-like dynamics, and conversions.
This doesn’t automatically change Coherent’s fundamentals—but it can dominate the tape in the short run.
A second force hit COHR on Friday: the broader AI-tech pullback
Coherent didn’t fall in a vacuum. U.S. markets broadly retreated from record levels on Friday, led by declines in mega-cap and AI-adjacent tech names.
- The S&P 500 fell 1.1% and the Nasdaq Composite fell 1.7% on December 12, 2025, according to the Associated Press, amid weakness in AI-linked technology stocks and rising Treasury yields. [9]
- Reuters also tied Friday’s slide to investors stepping away from technology as Broadcom and Oracle fed concerns about an “AI bubble,” alongside pressure from yields. [10]
And those two bellwethers had their own news catalysts:
- Broadcom shares fell after earnings despite upbeat revenue guidance, as it warned of gross margin pressure tied to AI revenue mix (per Reuters). [11]
- Oracle drew scrutiny after forecasts/spending commentary, including discussion of higher capital expenditures (Reuters coverage on Oracle’s miss and spending jump added to the “AI trade” nerves). [12]
For COHR specifically, this matters because many investors have grouped Coherent into the “AI infrastructure picks-and-shovels” basket—especially tied to optical networking, photonics components, and data-center buildouts. When that basket de-risks, COHR can move with it.
“Current news and analysis” published on 12/12/2025: what today’s reports emphasized
Several market outlets framed Friday’s COHR weakness around the combination of share-supply headlines and risk-off AI sentiment.
StockStory: volatility + the Bain-related pressure
A StockStory round-up published late Friday noted Coherent fell 9.3% and highlighted two points that traders often watch:
- COHR has had 46 moves greater than 5% over the last year (high volatility profile). [13]
- It pointed back to reports that Goldman Sachs offered 5 million shares tied to Bain’s stake reduction, describing the typical “increased supply” pressure such a sale can create. [14]
Validea (Nasdaq): fundamentals-driven model score
Validea’s fundamental analysis (published December 12, 2025 at 2:00 p.m. EST) scored COHR at 44% using its P/B Growth Investor model and summarized which internal tests passed/failed under that framework. [15]
Important context: that isn’t a “price target,” it’s a model-based score. But it reflects that at least some quantitative frameworks see a mixed picture when balancing growth characteristics against valuation and accounting metrics.
Simply Wall St: valuation reassessment after the secondary sale
Simply Wall St also published a December 12, 2025 piece explicitly framed as a valuation reassessment following “Bain Capital’s third secondary share sale,” reinforcing that the sponsor’s stake reduction was the dominant storyline for the day. [16]
Analyst forecasts snapshot: where consensus targets sit heading into the weekend
Because COHR moved so sharply, it’s worth noting where widely-cited consensus numbers stood as of Friday night (and why they can differ by vendor).
MarketBeat: “Moderate Buy,” but average target below the post-drop price
MarketBeat listed:
- Consensus rating: Moderate Buy
- Consensus price target:$154.42 [17]
With COHR around $178 after hours, that particular consensus set implies that—on average—analysts tracked there still see the stock above their mean target (i.e., targets may be lagging the recent run-up and volatility).
Yahoo Finance: 1-year target estimate near current price; next earnings window in early February
Yahoo’s COHR quote page showed:
- Earnings Date:Feb 4, 2026
- 1y Target Est:174.53 [18]
Earnings dates can shift, but multiple trackers converged on early February, including Zacks: [19]
Why this matters for Monday: with the next major “fundamental reset” (earnings) still weeks away, near-term trading may be dominated by positioning, flows, and follow-up commentary rather than new company financials.
What to know before “market open” on 13/12/2025: the calendar reality and the real setup
A critical practical note: December 13, 2025 is a Saturday, and U.S. stock markets are not open for regular trading. So there isn’t a traditional “opening bell” on 12/13/2025.
That said, what you do before the next session still matters—because COHR is coming off a high-volume, double-digit drop. Here’s the checklist most traders/investors will watch into the weekend and into the next U.S. market open (Monday, Dec. 15, 2025).
1) Watch for follow-on filings and confirmation of distribution mechanics
The Schedule 13D/A is the centerpiece, but heavy sponsor activity sometimes brings additional paperwork (or clarifying headlines). The December 12 filing already details the conversion and sale mechanics and the remaining position and conversion timing. [20]
What to look for next:
- Any additional amended ownership filings
- Any broker commentary around the block trade
- Any indications of further monetization
2) The Dec. 15 mandatory conversion is a near-term technical catalyst
The SEC filing states the mandatory conversion of the remaining Series B-2 preferred shares held by the reporting person will be effective December 15, 2025. [21]
This is important because it can:
- Change the composition of holdings (preferred → common)
- Potentially increase tradable supply if the holder chooses to sell common after conversion (not guaranteed)
3) Gauge whether Friday’s move was “company-specific” or “macro basket”
If Monday opens with a rebound in AI infrastructure names broadly, COHR can bounce even without new company news. Conversely, if Broadcom/Oracle-driven skepticism continues, COHR may remain correlated with that basket. Reuters and AP both framed Friday’s tape as a broader tech/AI de-risking. [22]
4) Expect headline sensitivity: COHR has been trading like a high-volatility name
StockStory’s note that COHR has seen 46 moves greater than 5% over the past year is a reminder that outsized swings have become “normal” behavior for this ticker recently. [23]
That tends to amplify:
- Stop-loss cascades
- Fast-money reversals
- Options-related positioning (especially after a big Friday move)
5) Keep one eye on earnings timing and Street expectation lag
Multiple trackers point to early February 2026 for the next earnings report (commonly cited as Feb. 4, 2026). [24]
Because earnings aren’t imminent, near-term price action may be driven less by revisions to quarterly numbers and more by:
- How the Street interprets sponsor selling
- Whether analysts update targets after a violent drawdown
- Whether macro AI sentiment stabilizes
Quick bottom line for COHR heading into the weekend
Coherent’s sharp drop into the Dec. 12 close looks driven by two overlapping forces:
- A major-shareholder SEC filing confirming a $947.75 million block sale at $189.55/share and detailing the remaining stake plus a Dec. 15 mandatory conversion date. [25]
- A broader AI/tech pullback on Friday that hit many AI-adjacent names as investors reacted to margin and spending narratives from bellwethers like Broadcom and Oracle. [26]
For anyone tracking COHR “before the next open,” the most practical things to monitor are: follow-on ownership headlines, any Street research updates, Monday’s sector tone, and the Dec. 15 conversion milestone disclosed in the filing. [27]
References
1. www.marketbeat.com, 2. www.marketbeat.com, 3. www.marketbeat.com, 4. www.sec.gov, 5. www.sec.gov, 6. www.sec.gov, 7. www.sec.gov, 8. www.sec.gov, 9. apnews.com, 10. www.investing.com, 11. www.reuters.com, 12. www.reuters.com, 13. markets.chroniclejournal.com, 14. markets.chroniclejournal.com, 15. www.nasdaq.com, 16. simplywall.st, 17. www.marketbeat.com, 18. finance.yahoo.com, 19. www.zacks.com, 20. www.sec.gov, 21. www.sec.gov, 22. apnews.com, 23. markets.chroniclejournal.com, 24. finance.yahoo.com, 25. www.sec.gov, 26. www.reuters.com, 27. www.sec.gov
