John Ambroseo Sells 25,000 Shares of Coherent, Inc. (COHR) Stock
Coherent, Inc. (NASDAQ:COHR) CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Coherent, Inc. (NASDAQ COHR) traded down 0.92% during midday trading on Wednesday, reaching $253.19. The company’s stock had a trading volume of 922,870 shares. The stock has a 50-day moving average of $232.11 and a 200 day moving average of $226.11. The firm has a market capitalization of $6.24 billion, a P/E ratio of 38.12 and a beta of 0.76. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $278.39.
Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). The business had revenue of $464.10 million for the quarter, compared to analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The company’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Equities research analysts predict that Coherent, Inc. will post $12.27 EPS for the current fiscal year.
Several research firms have recently weighed in on COHR. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target (up from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. reissued a “buy” rating and set a $290.00 price target (down from $295.00) on shares of Coherent in a report on Wednesday, August 2nd. BidaskClub raised Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, Northcoast Research reissued a “buy” rating and set a $314.00 price target (up from $311.00) on shares of Coherent in a report on Tuesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $291.88.
Institutional investors have recently modified their holdings of the business. Hanson McClain Inc. raised its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after acquiring an additional 250 shares during the period. Bank of Montreal Can raised its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after acquiring an additional 83 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Coherent in the first quarter worth about $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent in the second quarter worth about $199,000. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Coherent in the first quarter worth about $202,000. Institutional investors and hedge funds own 90.23% of the company’s stock.
Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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