Needham & Company LLC cut shares of Coherent (NASDAQ:COHR) from a buy rating to a hold rating in a research report released on Wednesday, January 30th, Marketbeat.com reports.
Several other analysts also recently weighed in on the company. Northcoast Research restated a hold rating on shares of Coherent in a report on Tuesday, January 29th. Barclays downgraded Coherent from an overweight rating to an equal weight rating and decreased their price objective for the company from $162.00 to $125.00 in a report on Thursday, January 17th. BidaskClub upgraded Coherent from a sell rating to a hold rating in a report on Tuesday, January 15th. Zacks Investment Research upgraded shares of Coherent from a sell rating to a hold rating in a report on Tuesday, January 8th. Finally, Goldman Sachs Group started coverage on shares of Coherent in a report on Monday, December 10th. They issued a neutral rating and a $136.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $175.71.
NASDAQ COHR opened at $131.29 on Wednesday. Coherent has a 52 week low of $90.10 and a 52 week high of $233.93. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 10.07 and a beta of 1.53. The company has a quick ratio of 1.95, a current ratio of 3.26 and a debt-to-equity ratio of 0.31.
Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Coherent had a return on equity of 22.05% and a net margin of 13.33%. The business had revenue of $383.15 million during the quarter, compared to the consensus estimate of $382.65 million. Analysts predict that Coherent will post 7.15 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. AlphaOne Investment Services LLC boosted its position in Coherent by 54.9% in the 4th quarter. AlphaOne Investment Services LLC now owns 395 shares of the scientific and technical instruments company’s stock worth $42,000 after purchasing an additional 140 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Coherent by 40.7% during the 4th quarter. AdvisorNet Financial Inc now owns 1,075 shares of the scientific and technical instruments company’s stock worth $114,000 after buying an additional 311 shares during the period. Focused Wealth Management Inc acquired a new position in shares of Coherent during the 3rd quarter worth approximately $115,000. NEXT Financial Group Inc acquired a new position in shares of Coherent during the 4th quarter worth approximately $173,000. Finally, Meristem Family Wealth LLC acquired a new position in shares of Coherent during the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 96.43% of the company’s stock.
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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