Coherent Inc. (NASDAQ:COHR) CEO John Ambroseo sold 25,979 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $110.00, for a total value of $2,857,690.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Coherent Inc. (NASDAQ:COHR) opened at 110.69 on Wednesday. Coherent Inc. has a 52 week low of $52.15 and a 52 week high of $112.40. The stock’s 50 day moving average price is $107.62 and its 200 day moving average price is $96.76. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 32.21 and a beta of 0.81.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.94 million. Coherent had a return on equity of 11.06% and a net margin of 10.26%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. On average, equities research analysts predict that Coherent Inc. will post $4.62 EPS for the current year.
Several analysts have recently commented on the company. Zacks Investment Research cut Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Benchmark Co. decreased their target price on Coherent from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Stifel Nicolaus increased their target price on Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $104.00.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Coherent during the fourth quarter valued at $17,735,000. Acadian Asset Management LLC bought a new position in shares of Coherent during the first quarter valued at $409,000. Aperio Group LLC boosted its position in shares of Coherent by 4.8% in the first quarter. Aperio Group LLC now owns 5,072 shares of the company’s stock valued at $466,000 after buying an additional 233 shares in the last quarter. CIBC World Markets Inc. bought a new position in shares of Coherent during the first quarter valued at $404,000. Finally, Pacad Investment Ltd. bought a new position in shares of Coherent during the first quarter valued at $248,000. 92.86% of the stock is owned by institutional investors and hedge funds.
Coherent, Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers, laser tools and related accessories for a diverse group of customers. It operates through two operating segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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