Coherent Inc. (NASDAQ:COHR) CEO John Ambroseo sold 25,979 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $110.00, for a total transaction of $2,857,690.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Coherent Inc. (NASDAQ:COHR) opened at 110.79 on Tuesday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 32.23 and a beta of 0.81. Coherent Inc. has a 52 week low of $52.15 and a 52 week high of $112.40. The company has a 50-day moving average of $107.47 and a 200-day moving average of $96.59.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by $0.04. Coherent had a net margin of 10.26% and a return on equity of 11.06%. The company earned $218.80 million during the quarter, compared to analysts’ expectations of $211.94 million. During the same period last year, the firm earned $0.82 earnings per share. Coherent’s revenue was up 16.1% on a year-over-year basis. Analysts anticipate that Coherent Inc. will post $4.62 earnings per share for the current year.
A number of large investors have recently made changes to their positions in COHR. State Street Corp boosted its stake in shares of Coherent by 1.1% in the first quarter. State Street Corp now owns 467,940 shares of the company’s stock worth $43,006,000 after buying an additional 5,188 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Coherent by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 611,008 shares of the company’s stock worth $56,152,000 after buying an additional 11,614 shares during the period. BlackRock Group LTD boosted its stake in shares of Coherent by 26.1% in the first quarter. BlackRock Group LTD now owns 42,510 shares of the company’s stock worth $3,908,000 after buying an additional 8,802 shares during the period. Aperio Group LLC boosted its stake in shares of Coherent by 4.8% in the first quarter. Aperio Group LLC now owns 5,072 shares of the company’s stock worth $466,000 after buying an additional 233 shares during the period. Finally, Systematic Financial Management LP boosted its stake in shares of Coherent by 79.8% in the second quarter. Systematic Financial Management LP now owns 663,537 shares of the company’s stock worth $60,899,000 after buying an additional 294,427 shares during the period. 92.86% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on COHR. Stifel Nicolaus increased their target price on shares of Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $123.00 target price on the stock in a research note on Monday, August 1st. Finally, Benchmark Co. lowered their target price on shares of Coherent from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Coherent has a consensus rating of “Buy” and a consensus price target of $104.00.
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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