Coherent (COHR) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $1.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.99. The company posted revenue of $199.90 million in the period, compared to analysts expectations of $197.44 million. The company’s revenue was down -1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.
Many Wall Street Analysts have commented on Coherent. Company shares were Reiterated by Needham on Mar 17, 2016 to “Buy”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Company shares were Reiterated by Stifel on Mar 7, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $82 .
Coherent opened for trading at $96.86 and hit $98.08 on the upside on Wednesday, eventually ending the session at $98.02, with a gain of 1.16% or 1.12 points. The heightened volatility saw the trading volume jump to 2,89,998 shares. Company has a market cap of $2,372 M.
In a different news, on Mar 22, 2016, Paul F Sechrist (EVP Worldwide Sales & Services) sold 19,000 shares at $90.00 per share price. According to the SEC, on Feb 10, 2016, Luis Spinelli (Exec VP, CTO) sold 2,451 shares at $77.55 per share price. On Mar 24, 2015, Mark Stewart Sobey (EVP) sold 2,183 shares at $67.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Coherent Inc. is a supplier of photonics-based solutions for a range of commercial and scientific research applications. The Company designs manufactures services and markets lasers and related accessories to customers. The Company operates in two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC). The SLS segment develops and manufactures configurable products serving the microelectronics scientific research and government programs and original equipment manufacturer (OEM) components and instrumentation markets. The CLC segments primary markets include materials processing OEM components and instrumentation and microelectronics.