Coherent, Inc. (NASDAQ:COHR) had its price target increased by Needham & Company LLC from $270.00 to $330.00 in a research report report published on Wednesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the scientific and technical instruments company’s stock.
Several other analysts also recently weighed in on the company. Benchmark Co. restated a buy rating and set a $290.00 target price on shares of Coherent in a research note on Thursday, October 12th. Zacks Investment Research upgraded Coherent from a hold rating to a strong-buy rating and set a $270.00 target price for the company in a research note on Tuesday, October 3rd. Summit Redstone restated a buy rating and set a $320.00 target price on shares of Coherent in a research note on Saturday, September 23rd. Stifel Nicolaus restated a buy rating and set a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Finally, Northcoast Research restated a buy rating and set a $314.00 target price (up from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $309.89.
Shares of Coherent (NASDAQ COHR) traded up $12.17 during trading on Wednesday, hitting $308.97. The stock had a trading volume of 902,100 shares, compared to its average volume of 447,123. The company has a quick ratio of 2.26, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $7,310.62, a P/E ratio of 24.96 and a beta of 0.79. Coherent has a 12 month low of $120.70 and a 12 month high of $310.10.
Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.24. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company’s revenue was up 97.2% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. sell-side analysts expect that Coherent will post 14.85 earnings per share for the current year.
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In related news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the transaction, the director now directly owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Smithfield Trust Co. acquired a new position in Coherent in the second quarter worth about $199,000. Daiwa Securities Group Inc. bought a new position in Coherent in the second quarter worth about $202,000. WESPAC Advisors LLC bought a new position in Coherent in the second quarter worth about $211,000. Coldstream Capital Management Inc. lifted its holdings 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 worth $227,000 after acquiring an additional 30 shares during the last quarter. Finally, BB&T Securities LLC bought a new position in Coherent in the second quarter worth about $236,000. Institutional investors and hedge funds own 91.04% of the company’s stock.
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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