Price Action To Observe: Is Coherent, Inc.’s Fuel Running Low? The Stock Reaches 52-Week High Today

Price Action To Observe: Is Coherent, Inc.'s Fuel Running Low? The Stock Reaches 52 Week High Today

The stock of Coherent, Inc. (NASDAQ:COHR) hit a new 52-week high and has $191.63 target or 48.00% above today’s $129.48 share price. The 7 months bullish chart indicates low risk for the $3.21B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $191.63 price target is reached, the company will be worth $1.54B 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 83,507 shares traded hands. Coherent, Inc. (NASDAQ:COHR) has risen 34.52% since April 15, 2016 and is uptrending. It has outperformed by 29.89% the S&P500.

Coherent, Inc. (NASDAQ:COHR) Ratings Coverage

Out of 4 analysts covering Coherent (NASDAQ:COHR), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Coherent has been the topic of 9 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. Stifel Nicolaus maintained the shares of COHR in a report on Friday, January 29 with “Buy” rating. The firm earned “Buy” rating on Monday, May 23 by Benchmark. Stifel Nicolaus maintained the shares of COHR in a report on Monday, March 7 with “Buy” rating. The stock has “Buy” rating given by Benchmark on Thursday, November 10. The stock has “Buy” rating given by TheStreet on Wednesday, September 2. The firm earned “Buy” rating on Thursday, November 3 by Needham.

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 Q2 2016. Its down 0.36, from 1.33 in 2016Q1. The ratio worsened, 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.
Cortina Asset Management Ltd Limited Liability Company, a Wisconsin-based fund reported 56,944 shares. Voya Invest Mngmt Ltd Company last reported 0.04% of its portfolio in the stock. Victory Capital Mgmt Incorporated owns 764 shares or 0% of their US portfolio. Sei Invs holds 0.02% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 36,025 shares. Strs Ohio holds 0.01% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 14,000 shares. American Century Companies holds 84,636 shares or 0.01% of its portfolio. Ftb Advsr Incorporated reported 540 shares or 0.01% of all its holdings. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Management Corp holds 0.02% or 20,465 shares in its portfolio. State Of Tennessee Treasury Department reported 69,341 shares or 0.03% of all its holdings. Public Sector Pension Invest Board reported 17,106 shares or 0.02% of all its holdings. Vident Inv Advisory Ltd Liability Com, a Georgia-based fund reported 34,457 shares. Goldman Sachs reported 48,090 shares or 0% of all its holdings. Axiom Intl Ltd Company De has 19,491 shares for 0.05% of their US portfolio. Pub Employees Retirement Association Of Colorado has 5,027 shares for 0% of their US portfolio. Systematic L P holds 0.83% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 663,537 shares.

Insider Transactions: Since May 20, 2016, the stock had 0 buys, and 12 sales for $5.66 million net activity. $2.42M worth of Coherent, Inc. (NASDAQ:COHR) was sold by KRAUSE L WILLIAM on Wednesday, August 3. The insider SOBEY MARK STEWART sold 4,593 shares worth $546,567. SPINELLI LUIS sold $545,405 worth of Coherent, Inc. (NASDAQ:COHR) on Sunday, November 13. 1,039 Coherent, Inc. (NASDAQ:COHR) shares with value of $109,956 were sold by DiMarco Bret. $63,130 worth of Coherent, Inc. (NASDAQ:COHR) was sold by SKAGGS STEPHEN A. Another trade for 5,000 shares valued at $533,726 was sold by JAMES SUSAN M..

More news for Coherent, Inc. (NASDAQ:COHR) were recently published by: Prnewswire.com, which released: “COHERENT, Inc. Announces Closing of Acquisition of ROFIN-SINAR Technologies” on November 07, 2016. Prnewswire.com‘s article titled: “Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results” and published on November 02, 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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