Zacks Investment Research upgraded shares of Coherent, Inc. (NASDAQ:COHR) from a hold rating to a strong-buy rating in a report issued on Tuesday. They currently have $270.00 target price on the scientific and technical instruments company’s stock.

According to Zacks, “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). SLS develops and manufactures configurable products serving the microelectronics, scientific research and government programs, and original equipment manufacturer (OEM) components and instrumentation markets. The Commercial Lasers and Components segment focuses on higher volume products that are offered in set configurations. The product architectures are designed for exchange at the point of use such that substantially all product service and repairs are based upon advanced replacement and depot (that is factory) repair. CLC’s primary markets include materials processing, OEM components, and instrumentation and microelectronics. “

Several other research firms also recently weighed in on COHR. ValuEngine downgraded Coherent from a buy rating to a hold rating in a research note on Friday, July 14th. Needham & Company LLC reaffirmed a buy rating and issued a $270.00 price objective (up from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Benchmark Co. reissued a buy rating and set a $290.00 price target (down previously from $295.00) on shares of Coherent in a research report on Wednesday, August 2nd. BidaskClub raised Coherent from a hold rating to a buy rating in a research report on Thursday, July 13th. Finally, Northcoast Research reissued 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. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Coherent has an average rating of Buy and a consensus target price of $293.22.

Shares of Coherent (NASDAQ:COHR) opened at 245.09 on Tuesday. The company’s 50 day moving average price is $239.03 and its 200 day moving average price is $233.45. The stock has a market capitalization of $6.04 billion, a PE ratio of 36.90 and a beta of 0.78. Coherent has a 12 month low of $100.01 and a 12 month high of $281.00.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. Equities analysts anticipate that Coherent will post $12.27 earnings per share for the current fiscal year.

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

Several large investors have recently made changes to their positions in the company. Navellier & Associates Inc grew its position in shares of Coherent by 12.1% in the second quarter. Navellier & Associates Inc now owns 28,953 shares of the scientific and technical instruments company’s stock valued at $6,514,000 after purchasing an additional 3,116 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Coherent in the second quarter valued at $420,000. WINTON GROUP Ltd purchased a new stake in shares of Coherent in the second quarter valued at $744,000. Public Employees Retirement System of Ohio grew its position in shares of Coherent by 1,266.0% in the second quarter. Public Employees Retirement System of Ohio now owns 11,666 shares of the scientific and technical instruments company’s stock valued at $2,625,000 after purchasing an additional 10,812 shares during the period. Finally, Koch Industries Inc. purchased a new stake in shares of Coherent in the second quarter valued at $354,000. 90.21% of the stock is owned by institutional investors and hedge funds.

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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