Coherent (NASDAQ:COHR) Shares Up 5.2%

Coherent, Inc. (NASDAQ:COHR)’s share price shot up 5.2% on Wednesday . The stock traded as high as $135.59 and last traded at $134.75. 379,334 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 360,964 shares. The stock had previously closed at $128.06.

Several brokerages have recently weighed in on COHR. Stifel Nicolaus upped their price objective on Coherent from $165.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BidaskClub upgraded Coherent from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered Coherent from a “hold” rating to a “strong sell” rating in a report on Monday, May 6th. TheStreet upgraded Coherent from a “c+” rating to a “b-” rating in a report on Thursday, March 21st. Finally, Susquehanna Bancshares lowered Coherent from a “positive” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $169.88.

The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 10.33 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.36 and a quick ratio of 2.03. The firm’s fifty day simple moving average is $122.40.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, April 30th. The scientific and technical instruments company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.01). Coherent had a net margin of 11.56% and a return on equity of 17.88%. The company had revenue of $372.90 million for the quarter, compared to analysts’ expectations of $369.11 million. During the same period in the prior year, the company earned $3.37 earnings per share. The company’s revenue for the quarter was down 22.5% on a year-over-year basis. On average, research analysts predict that Coherent, Inc. will post 6.1 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of COHR. AlphaOne Investment Services LLC raised its position in Coherent by 54.9% during the fourth quarter. AlphaOne Investment Services LLC now owns 395 shares of the scientific and technical instruments company’s stock valued at $42,000 after buying an additional 140 shares during the period. Synovus Financial Corp increased its holdings in shares of Coherent by 400.0% during the 1st quarter. Synovus Financial Corp now owns 320 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 256 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Coherent during the 1st quarter valued at about $64,000. Manchester Capital Management LLC acquired a new position in shares of Coherent during the 1st quarter valued at about $79,000. Finally, AdvisorNet Financial Inc boosted its stake in Coherent by 40.7% during the 4th quarter. AdvisorNet Financial Inc now owns 1,075 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 311 shares during the period. 96.43% of the stock is currently owned by hedge funds and other institutional investors.

About Coherent (NASDAQ:COHR)

Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.

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