Coherent Inc. (NASDAQ:COHR) shares shot up 3.1% during mid-day trading on Friday . The company traded as high as $96.74 and last traded at $96.37, with a volume of 192,054 shares. The stock had previously closed at $93.46.

A number of research firms have issued reports on COHR. Zacks Investment Research cut shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Benchmark Co. raised their price target on shares of Coherent from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Coherent in a report on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $90.40.

The stock has a 50-day moving average of $93.27 and a 200 day moving average of $85.85. The firm has a market capitalization of $2.34 billion and a PE ratio of 30.13.

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

In other Coherent news, Director L William Krause sold 1,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $88.15, for a total transaction of $158,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Luis Spinelli sold 3,027 shares of the business’s 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 approximately $774,882.30. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Coherent by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,606 shares of the company’s stock valued at $91,520,000 after buying an additional 54,494 shares during the period. Wells Fargo & Company MN boosted its position in Coherent by 3.9% in the fourth quarter. Wells Fargo & Company MN now owns 954,127 shares of the company’s stock valued at $62,122,000 after buying an additional 35,409 shares during the period. Boston Partners boosted its position in Coherent by 4.9% in the fourth quarter. Boston Partners now owns 262,854 shares of the company’s stock valued at $17,114,000 after buying an additional 12,321 shares during the period. New York State Common Retirement Fund boosted 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. Finally, Principal Financial Group Inc. boosted its position in Coherent by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 163,935 shares of the company’s stock valued at $10,674,000 after buying an additional 2,577 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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