Zacks Investment Research upgraded shares of Coherent (NASDAQ:COHR) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $337.00 price objective on the scientific and technical instruments company’s stock.

According to Zacks, “Coherent, Inc. is an American company, designs, manufactures and markets laser systems and components, laser measurement and control products, optics, and laser accessories, which are used both in industry and scientific research. Their markets are the microelectronics industry (e.g., flat panel display manufacturing, integrated circuit packaging, and integrated circuit inspection), scientific research, OEM components, and materials processing (e.g., CO2 lasers for cutting metals). “

Several other research firms have also weighed in on COHR. Northcoast Research reaffirmed a buy rating and set a $314.00 price target (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a buy rating and set a $290.00 price target on shares of Coherent in a research report on Wednesday, September 13th. Summit Redstone reaffirmed a buy rating and set a $320.00 price target on shares of Coherent in a research report on Saturday, September 23rd. Benchmark reaffirmed a buy rating and set a $290.00 price target on shares of Coherent in a research report on Thursday, October 12th. Finally, Needham & Company LLC boosted their price target on Coherent from $270.00 to $330.00 and gave the stock a buy rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $319.22.

Shares of Coherent (NASDAQ:COHR) opened at $301.57 on Wednesday. Coherent has a 1 year low of $143.74 and a 1 year high of $320.73. The stock has a market capitalization of $7,484.67, a P/E ratio of 25.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14.

Coherent (NASDAQ:COHR) last announced its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $475.24 million. During the same quarter last year, the firm earned $1.65 EPS. Coherent’s revenue for the quarter was up 97.2% compared to the same quarter last year. equities analysts expect that Coherent will post 15.56 earnings per share for the current year.

In other Coherent news, EVP Paul F. Sechrist sold 1,372 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the transaction, the executive vice president now owns 2,497 shares of the company’s stock, valued at approximately $749,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders have sold a total of 19,788 shares of company stock worth $5,901,628 in the last ninety days. Insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. boosted its stake in shares of Coherent by 3.6% during the 3rd quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock worth $226,449,000 after acquiring an additional 33,295 shares during the period. Earnest Partners LLC boosted its stake in shares of Coherent by 1.0% during the 3rd quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock worth $149,782,000 after acquiring an additional 6,066 shares during the period. FMR LLC boosted its stake in shares of Coherent by 23.2% during the 2nd quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock worth $111,157,000 after acquiring an additional 93,014 shares during the period. NWQ Investment Management Company LLC boosted its stake in shares of Coherent by 10.9% during the 3rd quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock worth $105,110,000 after acquiring an additional 43,822 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of Coherent during the 2nd quarter worth approximately $354,000. Institutional investors own 96.90% of the company’s stock.

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About Coherent

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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