Coherent, Inc. (COHR) Price Target Raised to $330.00 at Needham & Company LLC

Coherent, Inc. (NASDAQ:COHR) had its price target raised by investment analysts at Needham & Company LLC from $270.00 to $330.00 in a report released on Wednesday, November 8th, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 6.04% from the company’s previous close.

Several other brokerages have also recently weighed in on COHR. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Benchmark Co. reiterated a “buy” rating and issued a $290.00 price target (down previously from $295.00) on shares of Coherent in a research report on Wednesday, August 2nd. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Northcoast Research reiterated a “buy” rating and issued a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 price target on shares of Coherent in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned 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 (NASDAQ:COHR) opened at $311.20 on Wednesday. Coherent has a 52-week low of $124.94 and a 52-week high of $320.73. The stock has a market capitalization of $7,843.15, a P/E ratio of 26.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 2.14.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $490.00 million for the quarter, compared to analyst estimates of $475.24 million. During the same period last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 97.2% on a year-over-year basis. equities research analysts anticipate that Coherent will post 15.56 earnings per share for the current year.

In related news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $3,398,670. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Bret Dimarco sold 1,195 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $301.89, for a total value of $360,758.55. Following the transaction, the vice president now owns 2,198 shares of the company’s stock, valued at approximately $663,554.22. The disclosure for this sale can be found here. Insiders have sold a total of 42,414 shares of company stock worth $11,450,570 in the last three months. 1.40% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Smithfield Trust Co. acquired a new stake in shares of Coherent during the second quarter worth $199,000. Daiwa Securities Group Inc. acquired a new position in Coherent in the second quarter valued at about $202,000. WESPAC Advisors LLC acquired a new position in Coherent in the second quarter valued at about $211,000. 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 acquiring an additional 30 shares during the period. Finally, BB&T Securities LLC acquired a new position in Coherent in the second quarter valued at about $236,000. Institutional investors own 97.66% of the company’s stock.

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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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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