Published On: Tue, Sep 20th, 2016

Coherent Inc. (COHR) Sees Large Volume Increase

Coherent Inc. (NASDAQ:COHR) shares saw unusually-high trading volume on Monday . Approximately 149,242 shares traded hands during trading, an increase of 5% from the previous session’s volume of 142,013 shares.The stock last traded at $106.67 and had previously closed at $104.70.
COHR has been the topic of several research reports. Benchmark Co. upped their price objective on shares of Coherent from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, May 23rd. Stifel Nicolaus increased their target price on shares of Coherent from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Zacks Investment Research downgraded shares of Coherent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Coherent has an average rating of “Buy” and an average target price of $104.00.
The company’s 50 day moving average is $106.88 and its 200 day moving average is $95.71. The stock has a market capitalization of $2.59 billion, a P/E ratio of 30.95 and a beta of 0.81.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/19/coherent-inc-cohr-sees-large-volume-increase.html

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.11 by $0.04. The company earned $218.80 million during the quarter, compared to the consensus estimate of $211.94 million. Coherent had a net margin of 10.26% and a return on equity of 11.06%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Analysts expect that Coherent Inc. will post $4.62 EPS for the current year.
In related news, Director Susan M. James sold 5,000 shares of Coherent stock in a transaction on Monday, August 1st. The shares were sold at an average price of $106.75, for a total value of $533,750.00. Following the sale, the director now owns 5,220 shares in the company, valued at $557,235. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director L William Krause sold 22,785 shares of Coherent stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $106.10, for a total transaction of $2,417,488.50. Following the completion of the sale, the director now owns 4,811 shares in the company, valued at approximately $510,447.10. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Coherent by 165.2% in the first quarter. BlackRock Inc. now owns 1,745 shares of the company’s stock worth $161,000 after buying an additional 1,087 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Coherent by 69.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,767 shares of the company’s stock worth $162,000 after buying an additional 725 shares during the period. Marshall Wace LLP acquired a new stake in shares of Coherent during the second quarter worth approximately $225,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Coherent during the first quarter worth approximately $229,000. Finally, AHL Partners LLP acquired a new stake in shares of Coherent during the second quarter worth approximately $229,000. Institutional investors and hedge funds own 92.74% of the company’s stock.
About Coherent
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).

Receive News & Ratings for Coherent Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Coherent Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>