Stephen A. Skaggs Sells 500 Shares of Coherent, Inc. (COHR) Stock

Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the sale, the director now owns 11,500 shares in the company, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Coherent, Inc. (NASDAQ COHR) traded up 1.52% during midday trading on Friday, hitting $218.36. The stock had a trading volume of 488,742 shares. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $278.39. The stock has a market cap of $5.38 billion, a P/E ratio of 32.88 and a beta of 0.72. The stock has a 50-day moving average price of $242.38 and a 200-day moving average price of $219.85.

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

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A number of institutional investors have recently modified their holdings of COHR. Hanson McClain Inc. boosted its position in shares of Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock worth $146,000 after buying an additional 250 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock worth $167,000 after buying an additional 83 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Coherent during the first quarter worth about $170,000. Smithfield Trust Co. acquired a new position in shares of Coherent during the second quarter worth about $199,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Coherent during the second quarter worth about $202,000. 92.40% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have commented on COHR. Longbow Research restated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research report on Monday, June 12th. Benchmark Co. restated a “buy” rating and issued a $290.00 target price (down previously from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $240.00 target price (up previously from $225.00) on shares of Coherent in a research report on Wednesday, May 10th. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus lifted their price objective on Coherent from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $268.88.

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).

Insider Buying and Selling by Quarter for Coherent (NASDAQ:COHR)

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