Coherent, Inc. (COHR) Director Stephen A. Skaggs Sells 500 Shares

Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.27, for a total transaction of $106,135.00. Following the sale, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $2,228,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Coherent, Inc. (NASDAQ COHR) traded down $2.77 during mid-day trading on Tuesday, hitting $206.18. 549,750 shares of the stock were exchanged, compared to its average volume of 678,686. The company has a market capitalization of $5,120.00, a PE ratio of 23.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.18 and a quick ratio of 2.08. Coherent, Inc. has a 52-week low of $179.60 and a 52-week high of $329.00.

Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.02. The firm had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $474.21 million. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. sell-side analysts forecast that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

Coherent declared that its board has approved a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several equities research analysts recently weighed in on the stock. Barclays set a $325.00 price objective on shares of Coherent and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stifel Nicolaus cut their price objective on shares of Coherent from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Benchmark upped their price objective on shares of Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “sell” rating in a report on Monday. Finally, Northcoast Research reissued a “buy” rating and issued a $314.00 target price on shares of Coherent in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $312.22.

Several hedge funds have recently bought and sold shares of COHR. BlackRock Inc. raised its holdings in Coherent by 3.3% in the 4th quarter. BlackRock Inc. now owns 2,061,486 shares of the scientific and technical instruments company’s stock valued at $581,791,000 after buying an additional 66,248 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in Coherent by 3.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after buying an additional 33,295 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Coherent by 0.7% in the 4th quarter. OppenheimerFunds Inc. now owns 860,200 shares of the scientific and technical instruments company’s stock valued at $242,766,000 after buying an additional 5,787 shares during the last quarter. Carillon Tower Advisers Inc. bought a new position in Coherent in the 4th quarter valued at approximately $213,124,000. Finally, Earnest Partners LLC raised its holdings in Coherent by 1.0% in the 3rd quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after buying an additional 6,066 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

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About Coherent

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).

Insider Buying and Selling by Quarter for Coherent (NASDAQ:COHR)

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