Stifel Nicolaus restated their buy rating on shares of Coherent, Inc. (NASDAQ:COHR) in a research note published on Wednesday morning. They currently have a $290.00 price objective on the scientific and technical instruments company’s stock.
Other research analysts have also recently issued research reports about the stock. Longbow Research restated a buy rating and issued a $325.00 target price on shares of Coherent in a report on Monday, June 12th. BidaskClub cut shares of Coherent from a strong-buy rating to a buy rating in a report on Wednesday, June 14th. Susquehanna Bancshares Inc restated a neutral rating and issued a $255.00 target price (up previously from $240.00) on shares of Coherent in a report on Friday, June 30th. ValuEngine cut shares of Coherent from a buy rating to a hold rating in a report on Friday, July 14th. Finally, Benchmark Co. restated a buy rating and issued a $295.00 target price (up previously from $275.00) on shares of Coherent in a report on Thursday, July 20th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $291.88.
Shares of Coherent (NASDAQ COHR) opened at 253.77 on Wednesday. The firm has a market capitalization of $6.25 billion, a P/E ratio of 38.21 and a beta of 0.76. Coherent has a 1-year low of $100.01 and a 1-year high of $278.39. The stock’s 50 day moving average is $230.41 and its 200 day moving average is $226.95.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the prior year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 112.1% on a year-over-year basis. Equities analysts predict that Coherent will post $12.27 earnings per share for the current year.
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In related news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Coherent by 124,951.8% during the 1st quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock worth $511,226,000 after purchasing an additional 2,484,041 shares during the period. OppenheimerFunds Inc. boosted its stake in Coherent by 1.3% during the 1st quarter. OppenheimerFunds Inc. now owns 1,063,449 shares of the scientific and technical instruments company’s stock worth $218,688,000 after purchasing an additional 14,001 shares during the period. Epoch Investment Partners Inc. boosted its stake in Coherent by 66.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock worth $209,157,000 after purchasing an additional 370,993 shares during the period. State Street Corp boosted its stake in Coherent by 42.3% during the 1st quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock worth $157,609,000 after purchasing an additional 227,897 shares during the period. Finally, Earnest Partners LLC boosted its stake in Coherent by 1.6% during the 2nd quarter. Earnest Partners LLC now owns 630,844 shares of the scientific and technical instruments company’s stock worth $141,934,000 after purchasing an additional 9,641 shares during the period. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Coherent Company Profile
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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