Coherent (NASDAQ:COHR) Stock Price Up 5.2%

Shares of Coherent, Inc. (NASDAQ:COHR) rose 5.2% on Wednesday . The company traded as high as $135.59 and last traded at $134.75. Approximately 379,334 shares were traded during trading, an increase of 5% from the average daily volume of 360,964 shares. The stock had previously closed at $128.06.

COHR has been the subject of a number of recent analyst reports. BidaskClub cut Coherent from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Susquehanna Bancshares cut Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price target for the company. in a report on Monday, April 29th. TheStreet raised Coherent from a “c+” rating to a “b-” rating in a report on Thursday, March 21st. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus raised their price target on Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $169.88.

The stock’s fifty day simple moving average is $122.40. The firm has a market capitalization of $3.28 billion, a PE ratio of 10.33 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.36 and a quick ratio of 2.03.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, April 30th. The scientific and technical instruments company reported $1.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.01). The firm had revenue of $372.90 million during the quarter, compared to analyst estimates of $369.11 million. Coherent had a net margin of 11.56% and a return on equity of 17.88%. The firm’s quarterly revenue was down 22.5% on a year-over-year basis. During the same period last year, the business posted $3.37 earnings per share. On average, analysts anticipate that Coherent, Inc. will post 6.1 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of Coherent by 0.3% during the third quarter. Vanguard Group Inc now owns 2,185,105 shares of the scientific and technical instruments company’s stock worth $376,253,000 after purchasing an additional 5,472 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Coherent by 15.2% during the fourth quarter. SG Americas Securities LLC now owns 2,816 shares of the scientific and technical instruments company’s stock worth $298,000 after purchasing an additional 372 shares in the last quarter. Comerica Bank lifted its position in shares of Coherent by 1.2% during the fourth quarter. Comerica Bank now owns 15,850 shares of the scientific and technical instruments company’s stock worth $1,947,000 after purchasing an additional 187 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in shares of Coherent by 51.2% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 1,902 shares of the scientific and technical instruments company’s stock worth $201,000 after purchasing an additional 644 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Coherent by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 39,034 shares of the scientific and technical instruments company’s stock worth $4,126,000 after purchasing an additional 1,836 shares in the last quarter. 96.43% of the stock is owned by institutional investors.

Coherent Company Profile (NASDAQ:COHR)

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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