Coherent, Inc. (NASDAQ:COHR) had its target price hoisted by stock analysts at Needham & Company LLC from $270.00 to $330.00 in a research report issued to clients and investors on Wednesday, November 8th, Marketbeat reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target indicates a potential upside of 3.31% from the company’s previous close.
A number of other brokerages also recently weighed in on COHR. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 price target on shares of Coherent in a report on Wednesday, September 13th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target for the company in a report on Tuesday, October 3rd. Barclays PLC initiated coverage on Coherent in a research report on Monday, August 7th. They set an “overweight” rating and a $285.00 price objective for the company. Finally, ValuEngine lowered Coherent from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $309.89.
Coherent (COHR) traded up $9.00 during mid-day trading on Wednesday, reaching $319.44. The company’s stock had a trading volume of 262,724 shares, compared to its average volume of 437,061. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. Coherent has a 52 week low of $124.94 and a 52 week high of $319.54. The stock has a market cap of $7,870.00, a P/E ratio of 25.85 and a beta of 0.79.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. During the same period in the previous year, the business earned $1.65 EPS. Coherent’s revenue for the quarter was up 97.2% compared to the same quarter last year. equities research analysts anticipate that Coherent will post 15.56 EPS for the current fiscal year.
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In related news, CEO John Ambroseo sold 25,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The disclosure for this sale can be found here. Insiders have sold 42,414 shares of company stock worth $11,450,570 over the last ninety days. 1.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas grew its stake in Coherent by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock valued at $442,000 after purchasing an additional 5 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Coherent by 3.1% in the second quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock valued at $227,000 after purchasing an additional 30 shares in the last quarter. Creative Planning grew its stake in Coherent by 8.3% in the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock valued at $272,000 after purchasing an additional 92 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Coherent by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock valued at $271,000 after purchasing an additional 117 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its stake in Coherent by 2.2% in the second quarter. ETRADE Capital Management LLC now owns 6,775 shares of the scientific and technical instruments company’s stock valued at $1,524,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.
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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