Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Coherent, Inc. (NASDAQ COHR) opened at $300.07 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $7,421.95, a P/E ratio of 25.34 and a beta of 0.79. Coherent, Inc. has a 12 month low of $124.94 and a 12 month high of $314.76.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, topping the Zacks’ consensus estimate of $3.48 by $0.24. The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The firm’s quarterly revenue was up 97.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 earnings per share. analysts predict that Coherent, Inc. will post 15.15 EPS for the current year.
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COHR has been the topic of a number of recent research reports. reissued a “buy” rating and set a $290.00 price target on shares of Coherent in a research note on Wednesday, September 13th. reissued a “buy” rating and set a $270.00 price target (up from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. raised Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target on the stock in a research note on Tuesday, October 3rd. Barclays PLC began coverage on Coherent in a research note on Monday, August 7th. They set an “overweight” rating and a $285.00 price target on the stock. Finally, lowered Coherent from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus target price of $309.89.
Hedge funds have recently modified their holdings of the business. Smithfield Trust Co. bought a new stake in Coherent in the second quarter worth approximately $199,000. Daiwa Securities Group Inc. bought a new stake in Coherent in the second quarter worth approximately $202,000. WESPAC Advisors LLC bought a new stake in Coherent in the second quarter worth approximately $211,000. Penserra Capital Management LLC increased its holdings in 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 worth $224,000 after purchasing an additional 234 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in 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 purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 91.57% 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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