Coherent Inc. (COHR) Sees Strong Trading Volume
Shares of Coherent Inc. (NASDAQ:COHR) saw unusually-high trading volume on Monday . Approximately 269,756 shares were traded during trading, an increase of 31% from the previous session’s volume of 205,403 shares.The stock last traded at $107.40 and had previously closed at $106.05.
COHR has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Coherent in a research report on Tuesday, May 17th. Benchmark Co. lifted their target price on Coherent from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 23rd. Stifel Nicolaus lifted their target price on Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $123.00 target price for the company in a report on Monday. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus target price of $104.00.
The company’s 50-day moving average price is $93.99 and its 200-day moving average price is $87.97. The company has a market capitalization of $2.59 billion and a price-to-earnings ratio of 31.16.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.04. During the same quarter in the previous year, the business posted $0.82 earnings per share. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.94 million. The firm’s revenue was up 16.1% on a year-over-year basis. On average, analysts expect that Coherent Inc. will post $4.62 EPS for the current year.
In other Coherent news, Director L William Krause sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $89.68, for a total transaction of $896,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Luis Spinelli sold 3,027 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $84.90, for a total transaction of $256,992.30. Following the sale, the vice president now directly owns 9,127 shares in the company, valued at $774,882.30. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake 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 increased its stake 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. Regis Management CO LLC acquired a new stake in Coherent during the fourth quarter valued at approximately $1,172,000. Swiss National Bank increased its stake in Coherent by 10.7% in the fourth quarter. Swiss National Bank now owns 32,988 shares of the company’s stock valued at $2,148,000 after buying an additional 3,188 shares during the period. Finally, US Bancorp DE increased its stake in Coherent by 13.5% in the fourth quarter. US Bancorp DE now owns 22,380 shares of the company’s stock valued at $1,458,000 after buying an additional 2,664 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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