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.
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).
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