We present a new framework for modular verification of hardware designs in the style of the Bluespec language. That is, we formalize the idea of components in a hardware design, with well-defined input and output channels; and we show how to specify and verify components individually, with machine-checked proofs in the Coq proof assistant. As a demonstration, we verify a fairly realistic implementation of a multicore shared-memory system with two types of components: memory system and processor. Both components include nontrivial optimizations, with the memory system employing an arbitrary hierarchy of cache nodes that communicate with each other concurrently, and with the processor doing speculative execution of many concurrent read operations. Nonetheless, we prove that the combined system implements sequential consistency. To our knowledge, our memory-system proof is the first machine verification of a cache-coherence protocol parameterized over an arbitrary cache hierarchy, and our full-system proof is the first machine verification of sequential consistency for a multicore hardware design that includes caches and speculative processors.