Coherent Inc. (NASDAQ:COHR) VP Luis Spinelli sold 4,328 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $126.02, for a total value of $545,414.56. Following the sale, the vice president now owns 11,221 shares of the company’s stock, valued at approximately $1,414,070.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Coherent Inc. (NASDAQ:COHR) opened at 128.88 on Thursday. The firm’s 50-day moving average price is $110.91 and its 200 day moving average price is $101.58. Coherent Inc. has a 12-month low of $56.72 and a 12-month high of $128.90. The stock has a market cap of $3.12 billion, a PE ratio of 36.00 and a beta of 0.69.

Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.13. The business had revenue of $248.50 million for the quarter, compared to the consensus estimate of $241.76 million. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. Analysts anticipate that Coherent Inc. will post $7.75 EPS for the current year.

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

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $145.00 target price (up previously from $130.00) on shares of Coherent in a research report on Monday. Benchmark Co. reiterated a “buy” rating and set a $125.00 target price (up previously from $112.00) on shares of Coherent in a research report on Thursday, November 10th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $134.00 target price for the company in a research report on Tuesday, November 8th. Northcoast Research assumed coverage on Coherent in a research report on Tuesday, October 25th. They set a “buy” rating and a $130.00 target price for the company. Finally, Stifel Nicolaus increased their target price on Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Coherent currently has a consensus rating of “Buy” and a consensus target price of $120.67.

Several institutional investors have recently modified their holdings of COHR. Systematic Financial Management LP boosted its position in shares of Coherent by 79.8% in the second quarter. Systematic Financial Management LP now owns 663,537 shares of the company’s stock valued at $60,899,000 after buying an additional 294,427 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Coherent by 13.6% in the third quarter. Eagle Asset Management Inc. now owns 1,613,812 shares of the company’s stock valued at $178,390,000 after buying an additional 193,103 shares during the period. Westwood Management Corp IL bought a new position in shares of Coherent during the third quarter valued at about $21,069,000. Citadel Advisors LLC bought a new position in shares of Coherent during the third quarter valued at about $15,660,000. Finally, Elk Creek Partners LLC bought a new position in shares of Coherent during the second quarter valued at about $12,616,000. 95.04% of the stock is owned by institutional investors and hedge funds.

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).

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