Price Action To Observe: Could Coherent, Inc. Lose its Strength? The Stock Reaches 52-Week High

Price Action To Observe: Could Coherent, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Coherent, Inc. (NASDAQ:COHR) hit a new 52-week high and has $185.95 target or 63.00% above today’s $114.08 share price. The 6 months bullish chart indicates low risk for the $2.76 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $185.95 price target is reached, the company will be worth $1.74 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 327,105 shares traded hands or 115.87% up from the average. Coherent, Inc. (NASDAQ:COHR) has risen 9.56% since April 1, 2016 and is uptrending. It has outperformed by 8.35% the S&P500.

Coherent, Inc. (NASDAQ:COHR) Ratings Coverage

Out of 4 analysts covering Coherent (NASDAQ:COHR), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $115 is the highest target while $72 is the lowest. The $100 average target is -12.34% below today’s ($114.08) stock price. Coherent has been the topic of 7 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Benchmark maintained Coherent, Inc. (NASDAQ:COHR) on Monday, May 23 with “Buy” rating. The stock has “Buy” rating given by Needham on Friday, January 29. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, March 7 report. The firm has “Buy” rating by TheStreet given on Wednesday, September 2. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, January 29.

According to Zacks Investment Research, “COHERENT INC. designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. Co. integrates these technologies into a wide variety of products and systems designed to meet the productivity and performance needs of customers. Major markets include the scientific research community; medical institutions, clinics and private practices; lasers also support commercial applications, ranging from semiconductors and disk mastering to light shows and entertainment.”

Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.36, from 1.33 in 2016Q1. The ratio dropped, as 33 funds sold all Coherent, Inc. shares owned while 66 reduced positions. 35 funds bought stakes while 61 increased positions. They now own 20.88 million shares or 26.28% less from 28.33 million shares in 2016Q1.
Blackrock Advisors Ltd Liability holds 0.01% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 65,436 shares. Moreover, Independent Port Consultants has 0.26% invested in Coherent, Inc. (NASDAQ:COHR) for 9,125 shares. Nwq Investment Management Lc last reported 1.33M shares in the company. Bamco Inc Ny has invested 0% of its portfolio in Coherent, Inc. (NASDAQ:COHR). Skylands Capital Ltd Llc, a Wisconsin-based fund reported 49,300 shares. Moreover, Lord Abbett And Ltd Limited Liability Company has 0.07% invested in Coherent, Inc. (NASDAQ:COHR) for 237,589 shares. Pinebridge Limited Partnership has invested 0.01% of its portfolio in Coherent, Inc. (NASDAQ:COHR). Gemmer Asset Mngmt Ltd Liability Corporation accumulated 29 shares or 0% of the stock. Public Sector Pension Investment Board has 17,106 shares for 0.02% of their US portfolio. Credit Suisse Ag holds 33,103 shares or 0% of its portfolio. Ahl Prtn Llp holds 0.01% or 2,495 shares in its portfolio. Moreover, Blackrock Institutional Tru Na has 0.01% invested in Coherent, Inc. (NASDAQ:COHR) for 608,123 shares. Central Secs, a New York-based fund reported 450,000 shares. Kbc Nv reported 199 shares or 0% of all its holdings. Aqr Capital Management Ltd last reported 48,639 shares in the company.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 10 insider sales for $4.80 million net activity. On Monday, October 3 DiMarco Bret sold $104,595 worth of the stock or 953 shares. $158,670 worth of Coherent, Inc. (NASDAQ:COHR) was sold by KRAUSE L WILLIAM. Another trade for 5,000 shares valued at $533,726 was made by JAMES SUSAN M. on Monday, August 1. On Monday, August 15 the insider SKAGGS STEPHEN A sold $54,300. SOBEY MARK STEWART also sold $434,919 worth of Coherent, Inc. (NASDAQ:COHR) shares.

More news for Coherent, Inc. (NASDAQ:COHR) were recently published by: Streetinsider.com, which released: “Coherent, Inc. (COHR) Tops Q4 EPS by 13c” on November 02, 2016. Streetinsider.com‘s article titled: “Coherent, Inc. (COHR) to Acquire ROFIN-SINAR (RSTI) in $942M Deal” and published on March 16, 2016 is yet another important article.

COHR Company Profile

Coherent, Inc., incorporated on January 11, 1989, is a supplier of photonics solutions for a range of commercial and scientific research applications. The Firm designs, makes, services and markets lasers and related accessories to customers. The Firm operates in two divisions: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

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