Coherent, Inc. (COHR) Director Sells $106,135.00 in Stock

Coherent, Inc. (NASDAQ:COHR) Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the sale, the director now owns 10,500 shares in the company, valued at approximately $2,228,835. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Coherent, Inc. (NASDAQ COHR) opened at $219.33 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18. Coherent, Inc. has a 1 year low of $179.60 and a 1 year high of $329.00. The firm has a market cap of $5,311.60, a PE ratio of 24.98 and a beta of 0.65.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $474.21 million. During the same quarter in the prior year, the firm earned $2.57 EPS. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. research analysts expect that Coherent, Inc. will post 14.62 earnings per share for the current year.

Coherent announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Several large investors have recently made changes to their positions in the stock. Oakbrook Investments LLC grew its position in shares of Coherent by 7.0% during the 4th quarter. Oakbrook Investments LLC now owns 2,435 shares of the scientific and technical instruments company’s stock valued at $687,000 after buying an additional 160 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Coherent by 10.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 2,060 shares of the scientific and technical instruments company’s stock valued at $485,000 after buying an additional 193 shares during the last quarter. Amalgamated Bank grew its position in shares of Coherent by 5.5% during the 4th quarter. Amalgamated Bank now owns 5,141 shares of the scientific and technical instruments company’s stock valued at $1,451,000 after buying an additional 270 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Coherent by 12.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,980 shares of the scientific and technical instruments company’s stock valued at $701,000 after buying an additional 337 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Coherent by 1.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 20,274 shares of the scientific and technical instruments company’s stock valued at $5,722,000 after buying an additional 342 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on COHR. Barclays set a $325.00 target price on shares of Coherent and gave the company an “overweight” rating in a research note on Thursday, February 8th. Stifel Nicolaus cut their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Benchmark upped their target price on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Northcoast Research restated a “buy” rating and issued a $314.00 target price on shares of Coherent in a research note on Monday. Finally, Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “sell” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $312.22.

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Coherent Company Profile

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).

Insider Buying and Selling by Quarter for Coherent (NASDAQ:COHR)

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