Coherent, Inc. (NASDAQ:COHR) shares hit a new 52-week high and low during mid-day trading on Wednesday . The company traded as low as $175.52 and last traded at $176.38, with a volume of 493663 shares trading hands. The stock had previously closed at $180.39.
A number of research analysts recently issued reports on COHR shares. Zacks Investment Research cut shares of Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Barclays set a $332.00 price objective on shares of Coherent and gave the company a “buy” rating in a research note on Wednesday, January 10th. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price objective (down from $330.00) on shares of Coherent in a research note on Thursday, February 8th. Finally, Stifel Nicolaus decreased their price objective on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $312.22.
The company has a market capitalization of $4,511.59, a price-to-earnings ratio of 13.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18.
Coherent announced that its board has authorized a share repurchase program on Wednesday, February 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the sale, the director now owns 10,500 shares of the company’s stock, valued at $2,228,835. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Oakbrook Investments LLC grew its stake in shares of Coherent by 7.0% during the fourth quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock worth $687,000 after buying an additional 160 shares during the last quarter. Amalgamated Bank grew its stake in shares of Coherent by 5.5% during the fourth quarter. Amalgamated Bank now owns 5,141 shares of the scientific and technical instruments company’s stock worth $1,451,000 after buying an additional 270 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Coherent by 12.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock worth $701,000 after buying an additional 337 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Coherent by 1.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 20,274 shares of the scientific and technical instruments company’s stock worth $5,722,000 after purchasing an additional 342 shares during the period. Finally, Aperio Group LLC lifted its holdings in shares of Coherent by 3.6% during the fourth quarter. Aperio Group LLC now owns 10,810 shares of the scientific and technical instruments company’s stock worth $3,051,000 after purchasing an additional 371 shares during the period. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3334782/coherent-cohr-sets-new-52-week-high-and-low-at-175-52.html.
Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.
Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.