Coherent, Inc. (COHR) Receives Average Recommendation of “Buy” from Analysts
Coherent, Inc. (NASDAQ:COHR) has earned an average rating of “Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $293.22.
A number of brokerages have recently commented on COHR. Benchmark Co. reissued a “buy” rating and issued a $290.00 price objective (down previously from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Susquehanna Bancshares Inc raised shares of Coherent from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $255.00 to $275.00 in a research report on Thursday, August 3rd. Finally, UBS AG raised shares of Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd.
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In other Coherent news, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the transaction, the director now owns 11,500 shares in the company, valued at $2,502,170. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Smithfield Trust Co. acquired a new position in shares of Coherent in the second quarter valued at $199,000. Daiwa Securities Group Inc. acquired a new position in shares of Coherent in the second quarter valued at $202,000. WESPAC Advisors LLC acquired a new position in shares of Coherent in the second quarter valued at $211,000. Penserra Capital Management LLC increased its holdings in shares of Coherent by 4.2% in the second quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock valued at $224,000 after purchasing an additional 234 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased 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 valued at $227,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 90.31% 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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