Coherent, Inc. (COHR) Rating Reiterated by Benchmark Co.
Coherent, Inc. (NASDAQ:COHR)‘s stock had its “buy” rating reiterated by analysts at Benchmark Co. in a research report issued on Thursday. They presently have a $290.00 price target on the scientific and technical instruments company’s stock. Benchmark Co.’s target price points to a potential upside of 14.29% from the company’s current price.
The analysts wrote, “We believe it is likely that Apple will employ OLED displays in all its iPhones by no later than 2019 and that other smartphone manufacturers will shift to OLED displays during this period.””
COHR has been the subject of several other reports. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Northcoast Research reaffirmed a “buy” rating and issued a $314.00 price objective (up from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a report on Tuesday, October 3rd. Susquehanna Bancshares Inc raised Coherent from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $255.00 to $275.00 in a report on Thursday, August 3rd. Finally, Longbow Research reissued a “buy” rating and set a $325.00 price target on shares of Coherent in a report on Wednesday, June 28th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $293.22.
Shares of Coherent (NASDAQ COHR) traded up 0.02% during midday trading on Thursday, hitting $253.73. The company had a trading volume of 228,112 shares. The firm’s 50-day moving average is $243.88 and its 200-day moving average is $235.56. Coherent has a 12-month low of $100.01 and a 12-month high of $281.00. The firm has a market capitalization of $6.25 billion, a P/E ratio of 38.20 and a beta of 0.78.
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 Zacks’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm’s quarterly revenue was up 112.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. On average, analysts predict that Coherent will post $12.28 earnings per share for the current fiscal year.
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In other Coherent 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 transaction of $6,250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in COHR. Teacher Retirement System of Texas boosted its holdings in shares of Coherent by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock worth $442,000 after acquiring an additional 5 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of 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 period. Creative Planning boosted its holdings in shares of Coherent by 8.3% in the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock worth $272,000 after acquiring an additional 92 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Coherent by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock worth $271,000 after acquiring an additional 117 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Coherent by 3.8% in the first quarter. Amalgamated Bank now owns 3,332 shares of the scientific and technical instruments company’s stock worth $685,000 after acquiring an additional 121 shares during the period. 90.21% of the stock is owned by institutional investors and hedge funds.
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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