Stephen A. Skaggs Sells 500 Shares of Coherent, Inc. (COHR) Stock
Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $217.58, for a total value of $108,790.00. Following the transaction, the director now owns 11,500 shares in the company, valued at $2,502,170. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Coherent, Inc. (NASDAQ:COHR) traded down 2.28% on Thursday, reaching $218.61. The company’s stock had a trading volume of 195,539 shares. 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 one year low of $100.01 and a one year high of $278.39. The firm has a 50-day moving average price of $242.98 and a 200 day moving average price of $219.43.
Coherent (NASDAQ:COHR) last announced its earnings results 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. The company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm’s revenue was up 112.1% compared to the same quarter last year. During the same period last year, the business posted $1.07 EPS. On average, analysts anticipate that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/08/17/stephen-a-skaggs-sells-500-shares-of-coherent-inc-cohr-stock.html.
Several hedge funds have recently modified their holdings of COHR. Teachers Advisors LLC raised its stake in shares of Coherent by 13.3% in the fourth quarter. Teachers Advisors LLC now owns 44,070 shares of the scientific and technical instruments company’s stock valued at $6,055,000 after buying an additional 5,162 shares in the last quarter. Creative Planning raised its stake in shares of Coherent by 27.6% in the first quarter. Creative Planning now owns 1,115 shares of the scientific and technical instruments company’s stock valued at $229,000 after buying an additional 241 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in shares of Coherent during the first quarter valued at approximately $6,519,000. Finally, Westwood Management Corp IL raised its stake in shares of Coherent by 4.2% in the first quarter. Westwood Management Corp IL now owns 240,500 shares of the scientific and technical instruments company’s stock valued at $49,456,000 after buying an additional 9,600 shares in the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Benchmark Co. reiterated a “buy” rating on shares of Coherent in a research report on Wednesday, May 10th. Stifel Nicolaus lifted their price objective on Coherent from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Needham & Company LLC lifted their price objective on Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $240.00 price objective (up from $225.00) on shares of Coherent in a research report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $286.00 price objective on the stock in a research report on Monday, May 15th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $268.88.
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).
Receive News & Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related companies with MarketBeat.com's FREE daily email newsletter.