Coherent, Inc. (NASDAQ:COHR) released its earnings results on Tuesday. The company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.81. The firm earned $346.10 million during the quarter, compared to analysts’ expectations of $316.98 million. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The company’s revenue was up 81.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS.
Coherent (NASDAQ:COHR) opened at 190.65 on Thursday. The company has a market cap of $4.68 billion, a PE ratio of 53.25 and a beta of 0.80. Coherent has a one year low of $73.05 and a one year high of $194.36. The stock has a 50 day moving average price of $148.23 and a 200 day moving average price of $121.92.
In other news, VP Luis Spinelli sold 4,328 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $126.02, for a total transaction of $545,414.56. Following the transaction, the vice president now owns 11,221 shares in the company, valued at $1,414,070.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of COHR. Strs Ohio raised its stake in Coherent by 2.9% in the second quarter. Strs Ohio now owns 14,000 shares of the company’s stock worth $1,284,000 after buying an additional 400 shares in the last quarter. Columbus Circle Investors raised its stake in Coherent by 7.0% in the second quarter. Columbus Circle Investors now owns 274,639 shares of the company’s stock worth $25,206,000 after buying an additional 17,892 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new stake in Coherent during the second quarter worth $3,700,000. Airain ltd acquired a new stake in Coherent during the second quarter worth $993,000. Finally, Teacher Retirement System of Texas raised its stake in Coherent by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,382 shares of the company’s stock worth $310,000 after buying an additional 410 shares in the last quarter. Institutional investors own 93.22% of the company’s stock.
A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their target price on Coherent from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, January 3rd. Needham & Company LLC increased their target price on Coherent from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, November 3rd. Benchmark Co. reiterated a “buy” rating and set a $125.00 target price (up previously from $112.00) on shares of Coherent in a report on Thursday, November 10th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $134.00 target price for the company in a report on Tuesday, November 8th. Finally, Northcoast Research assumed coverage on Coherent in a report on Tuesday, October 25th. They set a “buy” rating and a $130.00 target price for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $144.83.
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).