Zacks Investment Research lowered shares of Coherent (NASDAQ:COHR) from a hold rating to a sell rating in a research report report published on Monday.

According to Zacks, “Coherent, Inc. is an American company, designs, manufactures and markets laser systems and components, laser measurement and control products, optics, and laser accessories, which are used both in industry and scientific research. Their markets are the microelectronics industry (e.g., flat panel display manufacturing, integrated circuit packaging, and integrated circuit inspection), scientific research, OEM components, and materials processing (e.g., CO2 lasers for cutting metals). “

COHR has been the subject of a number of other research reports. Barclays set a $332.00 price target on Coherent and gave the stock a buy rating in a research note on Wednesday, January 10th. BidaskClub lowered Coherent from a buy rating to a hold rating in a research note on Friday, January 26th. Stifel Nicolaus cut their price target on Coherent from $330.00 to $310.00 and set a buy rating for the company in a research note on Thursday, February 8th. Northcoast Research reiterated a buy rating and issued a $314.00 price target on shares of Coherent in a research note on Monday. Finally, Benchmark increased their price target on Coherent from $290.00 to $310.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Coherent has an average rating of Buy and an average target price of $312.22.

Coherent (NASDAQ COHR) opened at $213.99 on Monday. Coherent has a twelve month low of $179.60 and a twelve month high of $329.00. The company has a market capitalization of $5,117.74, a price-to-earnings ratio of 24.37 and a beta of 0.65. The company has a quick ratio of 2.08, a current ratio of 3.18 and a debt-to-equity ratio of 0.42.

Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping the Zacks’ consensus estimate of $3.52 by $0.02. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The company had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $474.21 million. During the same period last year, the firm earned $2.57 EPS. Coherent’s revenue for the quarter was up 38.0% compared to the same quarter last year. analysts anticipate that Coherent will post 14.62 earnings per share for the current year.

Coherent announced that its Board of Directors has initiated a share buyback program on Wednesday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

In other news, Director Stephen A. Skaggs sold 500 shares of the firm’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 completion of the transaction, the director now owns 10,500 shares in the company, valued at $2,228,835. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the transaction, the executive vice president now owns 2,497 shares of the company’s stock, valued at approximately $749,100. The disclosure for this sale can be found here. Insiders sold a total of 2,874 shares of company stock valued at $807,193 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Tygh Capital Management Inc. grew its position in shares of Coherent by 36.4% during the third quarter. Tygh Capital Management Inc. now owns 35,672 shares of the scientific and technical instruments company’s stock valued at $8,389,000 after purchasing an additional 9,529 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of Coherent during the second quarter valued at about $458,000. Affinity Wealth Management grew its position in shares of Coherent by 39.5% during the third quarter. Affinity Wealth Management now owns 2,505 shares of the scientific and technical instruments company’s stock valued at $589,000 after purchasing an additional 709 shares in the last quarter. Jag Capital Management LLC purchased a new position in shares of Coherent during the fourth quarter valued at about $13,008,000. Finally, Skylands Capital LLC grew its position in shares of Coherent by 2.0% during the third quarter. Skylands Capital LLC now owns 160,750 shares of the scientific and technical instruments company’s stock valued at $37,804,000 after purchasing an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

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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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