Noteworthy Price Action: A Reversal for Coherent, Inc. Is Not Near. The Stock Reaches 52-Week High Today

Noteworthy Price Action: A Reversal for Coherent, Inc. Is Not Near. The Stock Reaches 52 Week High Today

The stock of Coherent, Inc. (NASDAQ:COHR) hit a new 52-week high and has $131.73 target or 5.00% above today’s $125.46 share price. The 6 months bullish chart indicates low risk for the $2.99 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $131.73 price target is reached, the company will be worth $149.50M 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 141,342 shares traded hands. Coherent, Inc. (NASDAQ:COHR) has risen 36.76% since April 28, 2016 and is uptrending. It has outperformed by 30.84% the S&P500.

Analysts await Coherent, Inc. (NASDAQ:COHR) to report earnings on January, 26. They expect $1.61 EPS, up 89.41% or $0.76 from last year’s $0.85 per share. COHR’s profit will be $38.37 million for 19.48 P/E if the $1.61 EPS becomes a reality. After $1.48 actual EPS reported by Coherent, Inc. for the previous quarter, Wall Street now forecasts 8.78% EPS growth.

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. The firm earned “Buy” rating on Thursday, November 3 by Needham. The firm earned “Buy” rating on Wednesday, September 2 by TheStreet. The rating was maintained by Benchmark on Thursday, November 10 with “Buy”. The firm has “Buy” rating by Stifel Nicolaus given on Monday, March 7. The rating was maintained by Needham on Friday, January 29 with “Buy”. Stifel Nicolaus maintained Coherent, Inc. (NASDAQ:COHR) on Friday, January 29 with “Buy” rating. Benchmark maintained Coherent, Inc. (NASDAQ:COHR) rating on Monday, May 23. Benchmark has “Buy” rating and $115 price target.

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 increased to 1.08 in Q2 2016. Its up 0.11, from 0.97 in 2016Q1. The ratio improved, 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.
Victory Mngmt Inc holds 0% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 764 shares. Moreover, Asset Mngmt has 0.05% invested in Coherent, Inc. (NASDAQ:COHR) for 2,508 shares. Driehaus Capital Management Limited Liability Corp has 19,731 shares for 0.06% of their US portfolio. D E Shaw And Communications accumulated 3,685 shares or 0% of the stock. Pinnacle has 0.02% invested in the company for 11,750 shares. Strs Ohio accumulated 14,000 shares or 0.01% of the stock. Parametrica Ltd has 5,608 shares for 0.77% of their US portfolio. Us Bancorp De last reported 0% of its portfolio in the stock. Ftb Advsrs accumulated 0.01% or 540 shares. Nwq Invest Management Co Limited Liability Com last reported 1.33M shares in the company. Hanson And Doremus Investment Mngmt last reported 50 shares in the company. Johnson Financial Grp Inc last reported 225 shares in the company. Jpmorgan Chase & holds 0% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 94,236 shares. Acadian Asset Mgmt Ltd Company holds 124 shares or 0% of its portfolio. Lorem Ipsum Ltd Com holds 12,500 shares or 2.47% of its portfolio.

Insider Transactions: Since August 1, 2016, the stock had 0 insider buys, and 13 selling transactions for $6.26 million net activity. On Monday, August 15 the insider SKAGGS STEPHEN A sold $54,300. The insider SPINELLI LUIS sold $545,405. SOBEY MARK STEWART sold $602,559 worth of stock. On Friday, August 5 KRAUSE L WILLIAM sold $128,912 worth of the stock or 1,215 shares. 953 shares were sold by DiMarco Bret, worth $104,595 on Monday, October 3. On Monday, August 1 JAMES SUSAN M. sold $533,726 worth of the stock or 5,000 shares.

More important recent Coherent, Inc. (NASDAQ:COHR) news were published by: Prnewswire.com which released: “COHERENT, Inc. Announces Closing of Acquisition of ROFIN-SINAR Technologies” on November 07, 2016, also Prnewswire.com published article titled: “Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results”, Streetinsider.com published: “Coherent, Inc. (COHR) to Acquire ROFIN-SINAR (RSTI) in $942M Deal” on March 16, 2016. More interesting news about Coherent, Inc. (NASDAQ:COHR) was released by: Reuters.com and their article: “BRIEF-Coherent Inc entered into a credit agreement – SEC filing” with publication date: November 08, 2016.

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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