Coherent Inc. (NASDAQ:COHR) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $99.85 and last traded at $99.65, with a volume of 294,531 shares traded. The stock had previously closed at $95.74.

COHR has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Coherent in a report on Tuesday, May 17th. Benchmark Co. increased 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, Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Coherent currently has an average rating of “Buy” and a consensus target price of $90.40.

The company has a market cap of $2.40 billion and a P/E ratio of 30.84. The firm has a 50-day moving average of $93.16 and a 200-day moving average of $86.71.

In other Coherent news, VP Luis Spinelli sold 3,027 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $84.90, for a total transaction of $256,992.30. Following the completion of the sale, the vice president now directly owns 9,127 shares in the company, valued at approximately $774,882.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director L William Krause sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $89.68, for a total value of $896,800.00. The disclosure for this sale can be found here.

Several large investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors increased its stake in Coherent by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 18,112 shares of the company’s stock worth $1,179,000 after buying an additional 169 shares in the last quarter. Rhumbline Advisers increased its stake in Coherent by 1.8% in the fourth quarter. Rhumbline Advisers now owns 40,209 shares of the company’s stock worth $2,618,000 after buying an additional 725 shares in the last quarter. California State Teachers Retirement System increased its stake in Coherent by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 44,181 shares of the company’s stock worth $2,877,000 after buying an additional 757 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Coherent by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 154,539 shares of the company’s stock worth $10,062,000 after buying an additional 1,421 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake 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 worth $13,996,000 after buying an additional 2,300 shares in the last quarter.

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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