Coherent Inc. (NASDAQ:COHR) shares saw strong trading volume on Thursday . 263,234 shares were traded during trading, an increase of 30% from the previous session’s volume of 202,099 shares.The stock last traded at $94.52 and had previously closed at $94.25.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Benchmark Co. upped their target price on Coherent from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Coherent in a research report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Coherent has a consensus rating of “Buy” and an average price target of $90.40.

The firm has a market cap of $2.27 billion and a PE ratio of 29.20. The stock’s 50-day moving average price is $93.29 and its 200 day moving average price is $85.60.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Thursday, April 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. During the same period last year, the firm earned $0.94 EPS. The firm had revenue of $199.90 million for the quarter, compared to analyst estimates of $197.44 million. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts expect that Coherent Inc. will post $4.54 earnings per share for the current fiscal year.

In other Coherent news, VP Luis Spinelli sold 3,027 shares of Coherent stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $84.90, for a total transaction of $256,992.30. Following the transaction, the vice president now owns 9,127 shares of the company’s stock, valued at $774,882.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director L William Krause sold 7,700 shares of Coherent stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $88.55, for a total value of $681,835.00. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors raised its position in Coherent by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 18,112 shares of the company’s stock valued at $1,179,000 after buying an additional 169 shares during the period. Rhumbline Advisers raised its position in Coherent by 1.8% in the fourth quarter. Rhumbline Advisers now owns 40,209 shares of the company’s stock valued at $2,618,000 after buying an additional 725 shares during the period. California State Teachers Retirement System raised its position in Coherent by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 44,181 shares of the company’s stock valued at $2,877,000 after buying an additional 757 shares during the period. State of Wisconsin Investment Board raised its position in Coherent by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 154,539 shares of the company’s stock valued at $10,062,000 after buying an additional 1,421 shares during the period. Finally, New York State Common Retirement Fund raised its position in Coherent by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 214,966 shares of the company’s stock valued at $13,996,000 after buying an additional 2,300 shares during the period.

Coherent, Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers, laser tools and related accessories for a diverse group of customers. It operates through two operating segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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