According to Zacks, “COHERENT INC. designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. Co. integrates these technologies into a wide variety of products and systems designed to meet the productivity and performance needs of customers. Major markets include the scientific research community; medical institutions, clinics and private practices; lasers also support commercial applications, ranging from semiconductors and disk mastering to light shows and entertainment. “
A number of other research firms have also commented on COHR. Benchmark Co. reduced their price objective on Coherent from $115.00 to $112.00 and set a buy rating on the stock in a research note on Thursday, July 28th. Stifel Nicolaus boosted their target price on Coherent from $115.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $104.00.
Shares of Coherent (NASDAQ:COHR) opened at 110.54 on Tuesday. The firm’s 50-day moving average price is $107.75 and its 200-day moving average price is $97.13. Coherent has a 12 month low of $52.17 and a 12 month high of $112.40. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 32.16 and a beta of 0.82.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by $0.04. The business earned $218.80 million during 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%. Coherent’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities analysts anticipate that Coherent will post $4.62 earnings per share for the current year.
In related news, CEO John Ambroseo sold 25,979 shares of the company’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $110.00, for a total value of $2,857,690.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director L William Krause sold 22,785 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $106.10, for a total value of $2,417,488.50. Following the completion of the sale, the director now owns 4,811 shares of the company’s stock, valued at approximately $510,447.10. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in COHR. Systematic Financial Management LP increased its stake in Coherent by 79.8% in the second quarter. Systematic Financial Management LP now owns 663,537 shares of the company’s stock worth $60,899,000 after buying an additional 294,427 shares in the last quarter. Elk Creek Partners LLC bought a new stake in Coherent during the second quarter worth approximately $12,616,000. Allianz Asset Management AG bought a new stake in Coherent during the second quarter worth approximately $9,153,000. Neumeier Poma Investment Counsel LLC increased its stake in Coherent by 32.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 398,525 shares of the company’s stock worth $36,624,000 after buying an additional 97,625 shares in the last quarter. Finally, FMR LLC bought a new stake in Coherent during the second quarter worth approximately $8,599,000. Institutional investors and hedge funds own 92.86% of the company’s stock.
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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