Shares of Coherent Inc. (NASDAQ:COHR) hit a new 52-week high during trading on Friday . The company traded as high as $111.24 and last traded at $110.93, with a volume of 114,658 shares. The stock had previously closed at $109.55.

A number of equities analysts recently weighed in on the company. Benchmark Co. reduced their price target on Coherent from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, July 28th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $123.00 price target for the company in a report on Monday, August 1st. Needham & Company LLC reaffirmed a “buy” rating on shares of Coherent in a report on Tuesday, May 17th. Finally, Stifel Nicolaus upped their price target on Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Coherent has an average rating of “Buy” and a consensus price target of $104.00.

The stock has a market capitalization of $2.68 billion and a price-to-earnings ratio of 32.23. The company’s 50-day moving average price is $99.92 and its 200 day moving average price is $91.64.

Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, July 27th. The company reported $1.07 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.04. During the same quarter in the prior year, the business earned $0.82 EPS. The firm earned $218.80 million during the quarter, compared to analyst estimates of $211.94 million. The business’s quarterly revenue was up 16.1% on a year-over-year basis. Equities analysts expect that Coherent Inc. will post $4.62 EPS for the current fiscal year.

In related news, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $108.60, for a total transaction of $54,300.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $1,086,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director L William Krause sold 22,785 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $106.10, for a total value of $2,417,488.50. Following the transaction, the director now directly owns 4,811 shares in the company, valued at approximately $510,447.10. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Coherent stock. Dimensional Fund Advisors LP increased its position in Coherent Inc. (NASDAQ:COHR) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,405,606 shares of the company’s stock after buying an additional 54,494 shares during the period. Dimensional Fund Advisors LP owned 5.86% of Coherent worth $91,520,000 as of its most recent SEC filing.

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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