Coherent (COHR) Trading Down 3.2% on Insider Selling

Coherent, Inc. (NASDAQ:COHR)’s share price traded down 3.2% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $270.89 and last traded at $282.98. 213,018 shares were traded during mid-day trading, a decline of 52% from the average session volume of 443,240 shares. The stock had previously closed at $274.15.

Specifically, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The disclosure for this sale can be found here. Insiders have sold a total of 43,416 shares of company stock valued at $11,740,028 over the last 90 days. 1.40% of the stock is currently owned by insiders.

A number of brokerages have weighed in on COHR. Stifel Nicolaus lifted their price target on shares of Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Benchmark lifted their price target on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Susquehanna Bancshares reaffirmed a “positive” rating and set a $275.00 price target on shares of Coherent in a research report on Tuesday, September 5th. Barclays lifted their price target on shares of Coherent from $285.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. Finally, Summit Redstone reiterated a “buy” rating and set a $320.00 price objective on shares of Coherent in a research note on Saturday, September 23rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $309.89.

The firm has a market capitalization of $6,998.98, a P/E ratio of 23.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 3.13.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.24. The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business’s quarterly revenue was up 97.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. equities research analysts forecast that Coherent, Inc. will post 15.56 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new stake in shares of Coherent in the second quarter worth $202,000. WESPAC Advisors LLC bought a new stake in shares of Coherent in the second quarter worth $211,000. Penserra Capital Management LLC increased its stake in shares of Coherent by 4.2% in the second quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock worth $224,000 after buying an additional 234 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Coherent by 3.1% in the second quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after buying an additional 30 shares during the last quarter. Finally, BB&T Securities LLC bought a new stake in Coherent during the second quarter valued at $236,000. Institutional investors own 97.06% of the company’s stock.

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About Coherent

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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