The stock of Coherent, Inc. (NASDAQ:COHR) hit a new 52-week high and has $187.08 target or 69.00% above today’s $110.70 share price. The 8 months bullish chart indicates low risk for the $2.80B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $187.08 price target is reached, the company will be worth $1.93 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 49,560 shares traded hands. Coherent, Inc. (NASDAQ:COHR) has risen 33.71% since March 4, 2016 and is uptrending. It has outperformed by 25.67% the S&P500.
Analysts await Coherent, Inc. (NASDAQ:COHR) to report earnings on November, 2. They expect $1.37 earnings per share, up 22.32% or $0.25 from last year’s $1.12 per share. COHR’s profit will be $34.65M for 20.20 P/E if the $1.37 EPS becomes a reality. After $0.90 actual earnings per share reported by Coherent, Inc. for the previous quarter, Wall Street now forecasts 52.22% EPS growth.
Coherent, Inc. (NASDAQ:COHR) Ratings Coverage
Out of 3 analysts covering Coherent (NASDAQ:COHR), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $115 is the highest target while $72 is the lowest. The $100 average target is -9.67% below today’s ($110.7) stock price. Coherent has been the topic of 6 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Needham maintained Coherent, Inc. (NASDAQ:COHR) rating on Friday, January 29. Needham has “Buy” rating and $85 price target. The firm has “Buy” rating by TheStreet given on Wednesday, September 2. The rating was maintained by Stifel Nicolaus on Monday, March 7 with “Buy”. Stifel Nicolaus maintained Coherent, Inc. (NASDAQ:COHR) on Friday, January 29 with “Buy” rating. The stock of Coherent, Inc. (NASDAQ:COHR) has “Buy” rating given on Monday, May 23 by Benchmark.
According to Zacks Investment Research, “COHERENT INC. designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. Co. integrates these technologies into a wide variety of products and systems designed to meet the productivity and performance needs of customers. Major markets include the scientific research community; medical institutions, clinics and private practices; lasers also support commercial applications, ranging from semiconductors and disk mastering to light shows and entertainment.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.36, from 1.33 in 2016Q1. The ratio dropped, as 33 funds sold all Coherent, Inc. shares owned while 66 reduced positions. 35 funds bought stakes while 61 increased positions. They now own 20.88 million shares or 26.28% less from 28.33 million shares in 2016Q1.
Glenmede Co Na accumulated 0.2% or 367,477 shares. Legal And General Group Public Ltd accumulated 5,400 shares or 0% of the stock. Tiaa Cref Invest Ltd Llc last reported 0.01% of its portfolio in the stock. Lord Abbett Co Ltd Liability holds 0.07% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 237,589 shares. Moreover, Ameriprise Financial has 0.01% invested in Coherent, Inc. (NASDAQ:COHR) for 159,799 shares. Johnson Fincl Gp Inc Inc holds 0% or 225 shares in its portfolio. Tudor Inv Et Al accumulated 6,500 shares or 0.01% of the stock. Parkside Comml Bank And Trust holds 364 shares or 0.02% of its portfolio. Vanguard Gp reported 1.95M shares or 0.01% of all its holdings. Services Automobile Association last reported 90,245 shares in the company. Moreover, Blackrock Institutional Tru Na has 0.01% invested in Coherent, Inc. (NASDAQ:COHR) for 608,123 shares. Moreover, Qs Lc has 0.03% invested in Coherent, Inc. (NASDAQ:COHR) for 37,782 shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Ftb Advsrs owns 540 shares or 0.01% of their US portfolio. Moreover, Fincl Bank Of America De has 0% invested in Coherent, Inc. (NASDAQ:COHR) for 174,595 shares.
Insider Transactions: Since April 29, 2016, the stock had 0 buys, and 12 selling transactions for $5.95 million net activity. 1,215 shares with value of $128,912 were sold by KRAUSE L WILLIAM on Friday, August 5. 953 shares were sold by DiMarco Bret, worth $104,595 on Monday, October 3. 4,042 Coherent, Inc. (NASDAQ:COHR) shares with value of $434,919 were sold by SOBEY MARK STEWART. $257,004 worth of Coherent, Inc. (NASDAQ:COHR) was sold by SPINELLI LUIS. 5,000 shares were sold by JAMES SUSAN M., worth $533,726 on Monday, August 1. On Monday, August 15 the insider SKAGGS STEPHEN A sold $54,300.
More news for Coherent, Inc. (NASDAQ:COHR) were recently published by: Prnewswire.com, which released: “Coherent, Inc. to Present at the Deutsche Bank Technology Conference” on August 31, 2016. Streetinsider.com‘s article titled: “Coherent, Inc. (COHR) to Acquire ROFIN-SINAR (RSTI) in $942M Deal” and published on March 16, 2016 is yet another important article.
COHR Company Profile
Coherent, Inc., incorporated on January 11, 1989, is a supplier of photonics solutions for a range of commercial and scientific research applications. The Firm designs, makes, services and markets lasers and related accessories to customers. The Firm operates in two divisions: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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