Coherent (COHR) was Reiterated by The Benchmark Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 115 from a previous price target of $110 . The Benchmark Company advised their investors in a research report released on May 23, 2016.
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 .
On the company’s financial health, Coherent reported $1.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.99. The company had revenue of $199.90 million for the quarter, 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.
Coherent opened for trading at $85.64 and hit $87.69 on the upside on Friday, eventually ending the session at $87.47, with a gain of 2.45% or 2.09 points. The heightened volatility saw the trading volume jump to 2,36,944 shares. Company has a market cap of $2,124,821 M.
In a different news, on May 19, 2016, Luis Spinelli (Exec VP, CTO) sold 3,027 shares at $84.96 per share price. According to the SEC, on May 18, 2016, L William Krause (director) sold 2,000 shares at $86.39 per share price. On Mar 22, 2016, Paul F Sechrist (EVP Worldwide Sales & Services) sold 19,000 shares at $90.00 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.