Coherent, Inc. (NASDAQ:COHR) has earned an average recommendation of “Buy” from the twelve analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $319.22.

COHR has been the topic of a number of recent research reports. Summit Redstone reaffirmed a “buy” rating and set a $320.00 price target on shares of Coherent in a research report on Saturday, September 23rd. Stifel Nicolaus upped their target price on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Benchmark upped their target price on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Needham & Company LLC upped their target price on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, BidaskClub raised Coherent from a “hold” rating to a “buy” rating in a research report on Thursday.

Shares of Coherent (NASDAQ COHR) traded down $1.90 during mid-day trading on Monday, reaching $320.01. 519,648 shares of the company’s stock were exchanged, compared to its average volume of 425,887. The firm has a market capitalization of $7,940.00, a PE ratio of 38.05 and a beta of 0.82. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.51. Coherent has a 1 year low of $145.18 and a 1 year high of $329.00.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.24. The firm had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. Coherent’s revenue was up 97.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. research analysts anticipate that Coherent will post 15.56 earnings per share for the current fiscal year.

In other news, EVP Paul F. Sechrist sold 1,372 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the sale, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at $749,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $3,398,670. The disclosure for this sale can be found here. Insiders have sold 19,788 shares of company stock valued at $5,901,628 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oakbrook Investments LLC boosted its position in shares of Coherent by 7.0% in the fourth quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $687,000 after acquiring an additional 160 shares during the period. Westpac Banking Corp boosted its position in shares of Coherent by 104.1% in the fourth quarter. Westpac Banking Corp now owns 27,649 shares of the scientific and technical instruments company’s stock valued at $7,803,000 after acquiring an additional 14,100 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Coherent by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 132,607 shares of the scientific and technical instruments company’s stock valued at $37,425,000 after acquiring an additional 6,244 shares during the period. Bank of Montreal Can boosted its position in shares of Coherent by 91.9% in the fourth quarter. Bank of Montreal Can now owns 3,351 shares of the scientific and technical instruments company’s stock valued at $945,000 after acquiring an additional 1,605 shares during the period. Finally, Sheets Smith Wealth Management bought a new stake in shares of Coherent in the fourth quarter valued at approximately $613,000. 96.90% of the stock is owned by 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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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