Coherent, Inc. (NASDAQ:COHR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $270.00 price objective on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.13% from the company’s previous close.

According to Zacks, “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). SLS develops and manufactures configurable products serving the microelectronics, scientific research and government programs, and original equipment manufacturer (OEM) components and instrumentation markets. The Commercial Lasers and Components segment focuses on higher volume products that are offered in set configurations. The product architectures are designed for exchange at the point of use such that substantially all product service and repairs are based upon advanced replacement and depot (that is factory) repair. CLC’s primary markets include materials processing, OEM components, and instrumentation and microelectronics. “

A number of other research analysts also recently weighed in on the company. ValuEngine downgraded Coherent from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Northcoast Research reiterated a “buy” rating and set a $314.00 price objective (up previously from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Longbow Research reiterated a “buy” rating and set a $325.00 price objective on shares of Coherent in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc raised Coherent from a “neutral” rating to a “positive” rating and increased their price objective for the company from $255.00 to $275.00 in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $290.00 price objective on shares of Coherent in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Coherent presently has an average rating of “Buy” and a consensus price target of $293.22.

Coherent (NASDAQ:COHR) traded up 2.62% during trading on Tuesday, hitting $240.80. 535,125 shares of the stock were exchanged. Coherent has a 1-year low of $100.01 and a 1-year high of $281.00. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 36.25 and a beta of 0.78. The firm’s 50 day moving average price is $237.12 and its 200-day moving average price is $232.94.

Coherent (NASDAQ:COHR) last released 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). Coherent had a return on equity of 24.67% and a net margin of 13.55%. The company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was up 112.1% on a year-over-year basis. On average, analysts anticipate that Coherent will post $12.27 EPS for the current year.

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In related news, CEO John Ambroseo sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in COHR. BlackRock Inc. boosted its position in Coherent by 124,951.8% during the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock worth $511,226,000 after purchasing an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Coherent by 66.4% in the second quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after purchasing an additional 370,993 shares during the last quarter. State Street Corp increased its holdings in shares of Coherent by 42.3% in the first quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after purchasing an additional 227,897 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Coherent by 1.6% in the second quarter. Earnest Partners LLC now owns 630,844 shares of the scientific and technical instruments company’s stock valued at $141,934,000 after purchasing an additional 9,641 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock valued at $111,157,000 after purchasing an additional 93,014 shares during the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Coherent (NASDAQ:COHR)

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