Coherent, Inc. (NASDAQ:COHR) had its target price raised by Benchmark Co. from $290.00 to $310.00 in a research note released on Wednesday, MarketBeat.com reports. The brokerage currently has a buy rating on the scientific and technical instruments company’s stock.

Several other research firms also recently weighed in on COHR. ValuEngine downgraded Coherent from a buy rating to a hold rating in a report on Friday, July 14th. Needham & Company LLC reissued a buy rating and issued a $270.00 price objective (up from $265.00) 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. Stifel Nicolaus reissued a buy rating and issued a $290.00 price objective on shares of Coherent in a report on Wednesday, September 13th. Finally, Northcoast Research reissued a buy rating and issued a $314.00 price objective (up from $311.00) on shares of Coherent in a report on Tuesday, September 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $309.89.

Coherent (NASDAQ:COHR) opened at $308.97 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 3.13 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $7,310.62, a P/E ratio of 24.96 and a beta of 0.79. Coherent has a fifty-two week low of $120.70 and a fifty-two week high of $310.10.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The business had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company’s revenue was up 97.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.65 earnings per share. equities analysts anticipate that Coherent will post 14.85 EPS for the current fiscal year.

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In related news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in Coherent by 117.8% in 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 position in Coherent in the second quarter worth $4,051,000. Tygh Capital Management Inc. raised its position in Coherent by 36.4% in 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 raised its position in Coherent by 73.8% in 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. raised its position in Coherent by 24.9% in 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. 91.04% of the stock is owned by hedge funds and other institutional investors.

Coherent Company Profile

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).

Analyst Recommendations for Coherent (NASDAQ:COHR)

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