Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the sale, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Coherent, Inc. (NASDAQ COHR) traded down 2.28% during trading on Thursday, reaching $218.61. The company had a trading volume of 195,539 shares. The firm has a 50-day moving average of $242.98 and a 200 day moving average of $219.43. The firm has a market capitalization of $5.38 billion, a PE ratio of 32.91 and a beta of 0.72. Coherent, Inc. has a 1-year low of $100.01 and a 1-year high of $278.39.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by $0.09. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The company had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. During the same quarter in the prior year, the company earned $1.07 EPS. The business’s revenue was up 112.1% on a year-over-year basis. Analysts expect that Coherent, Inc. will post $12.27 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new position in Coherent during the second quarter valued at about $420,000. WINTON GROUP Ltd acquired a new stake in shares of Coherent during the second quarter worth approximately $744,000. Public Employees Retirement System of Ohio boosted its stake in shares of Coherent by 1,266.0% in the second quarter. Public Employees Retirement System of Ohio now owns 11,666 shares of the scientific and technical instruments company’s stock worth $2,625,000 after buying an additional 10,812 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Coherent during the second quarter worth approximately $354,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Coherent during the second quarter worth approximately $825,000. Institutional investors own 92.40% of the company’s stock.
Several analysts have recently commented on COHR shares. Benchmark Co. reiterated a “buy” rating on shares of Coherent in a report on Wednesday, May 10th. Stifel Nicolaus increased their price objective on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Needham & Company LLC raised their target price on Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $240.00 target price (up previously from $225.00) on shares of Coherent in a research note on Wednesday, May 10th. Finally, Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $286.00 target price for the company in a research note on Monday, May 15th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Coherent has an average rating of “Buy” and a consensus target price of $268.88.
About Coherent
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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