Insider Selling: Coherent, Inc. (COHR) Director Sells $1,288,276.00 in Stock
Coherent, Inc. (NASDAQ:COHR) Director Sandeep Vij sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $292.79, for a total value of $1,288,276.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Coherent, Inc. (COHR) opened at $302.74 on Thursday. Coherent, Inc. has a 12 month low of $124.94 and a 12 month high of $314.76. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $7,391.16, a P/E ratio of 25.24 and a beta of 0.79.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business had revenue of $490.00 million for the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the prior year, the business earned $1.65 earnings per share. Coherent’s revenue for the quarter was up 97.2% on a year-over-year basis. equities analysts expect that Coherent, Inc. will post 15.56 EPS for the current year.
A number of equities analysts have recently weighed in on the company. Northcoast Research restated a “buy” rating and issued a $314.00 target price (up previously from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Needham & Company LLC boosted their target price on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Stifel Nicolaus restated a “buy” rating and issued a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Susquehanna Bancshares Inc upgraded Coherent from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $255.00 to $275.00 in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 target price on the stock in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Coherent has a consensus rating of “Buy” and a consensus price target of $309.89.
A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in shares of Coherent by 117.8% during the second quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock worth $1,526,000 after acquiring an additional 3,668 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Coherent during the second quarter worth $4,051,000. Tygh Capital Management Inc. lifted its position in shares of Coherent by 36.4% during the third quarter. Tygh Capital Management Inc. now owns 35,672 shares of the scientific and technical instruments company’s stock worth $8,389,000 after acquiring an additional 9,529 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Coherent by 73.8% during the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after acquiring an additional 496 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Coherent by 24.9% during the second quarter. Russell Investments Group Ltd. now owns 83,119 shares of the scientific and technical instruments company’s stock worth $18,701,000 after acquiring an additional 16,577 shares in the last quarter. Institutional investors and hedge funds own 91.57% 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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