The stock of Coherent, Inc. (NASDAQ:COHR) hit a new 52-week high and has $156.19 target or 31.00% above today’s $119.23 share price. The 5 months bullish chart indicates low risk for the $2.89 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $156.19 price target is reached, the company will be worth $895.90M 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 196,337 shares traded hands or 11.59% up from the average. Coherent, Inc. (NASDAQ:COHR) has risen 29.55% since April 7, 2016 and is uptrending. It has outperformed by 24.77% 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. Coherent has been the topic of 8 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, September 2 by TheStreet. The rating was maintained by Needham on Thursday, November 3 with “Buy”. The stock has “Buy” rating given by Benchmark on Monday, May 23. The firm earned “Buy” rating on Monday, March 7 by Stifel Nicolaus. The company was maintained on Friday, January 29 by Stifel Nicolaus. The firm has “Buy” rating given on Friday, January 29 by Needham.
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 2016 Q2. Its down 0.36, from 1.33 in 2016Q1. The ratio is negative, 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.
Acadian Asset Limited Liability Corp holds 124 shares or 0% of its portfolio. Moreover, First Personal Services has 0% invested in Coherent, Inc. (NASDAQ:COHR) for 122 shares. Icon Advisers Communications reported 3,794 shares or 0.02% of all its holdings. Jacobs Levy Equity Mngmt reported 7,790 shares or 0.01% of all its holdings. Prudential Financial Inc has 59,478 shares for 0.01% of their US portfolio. Driehaus Cap Mgmt Limited Liability holds 0.06% of its portfolio in Coherent, Inc. (NASDAQ:COHR) for 19,731 shares. Profund Advsrs Ltd reported 5,314 shares or 0.02% of all its holdings. Lord Abbett Ltd Liability has 0.07% invested in the company for 237,589 shares. Renaissance Limited Co has 62,000 shares for 0.01% of their US portfolio. California State Teachers Retirement Sys has 0.01% invested in the company for 50,863 shares. Sg Capital Mgmt Ltd Company holds 0.27% or 12,125 shares in its portfolio. Price T Rowe Associate Md last reported 0.01% of its portfolio in the stock. Capital Fund Mngmt, a France-based fund reported 12,294 shares. Natl Asset Mngmt Inc holds 0.05% or 2,508 shares in its portfolio. Ladenburg Thalmann Financial Service holds 0% or 1,190 shares in its portfolio.
Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 10 sales for $4.77 million net activity. SOBEY MARK STEWART sold $434,919 worth of stock. KRAUSE L WILLIAM sold $681,823 worth of stock. 500 shares were sold by SKAGGS STEPHEN A, worth $54,300. 1,039 Coherent, Inc. (NASDAQ:COHR) shares with value of $109,956 were sold by DiMarco Bret. Another trade for 5,000 shares valued at $533,726 was made by JAMES SUSAN M. on Monday, August 1.
More important recent Coherent, Inc. (NASDAQ:COHR) news were published by: Prnewswire.com which released: “COHERENT, Inc. Announces Closing of Acquisition of ROFIN-SINAR Technologies” on November 07, 2016, also Prnewswire.com published article titled: “Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results”, Streetinsider.com published: “Coherent, Inc. (COHR) to Acquire ROFIN-SINAR (RSTI) in $942M Deal” on March 16, 2016. More interesting news about Coherent, Inc. (NASDAQ:COHR) was released by: Prnewswire.com and their article: “Coherent, Inc. Announces Live Webcast of Third Quarter Fiscal Year 2016 Results” with publication date: July 14, 2016.
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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