The stock of Coherent Corp. (NYSE:COHR) last traded at $32.39, up 5.30% from the previous session.
Data from the available sources indicates that Coherent Corp. (NYSE:COHR) is covered by 19 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $29.00, we find $40.00. Given the previous closing price of $30.76, this indicates a potential upside of 30.04 percent. COHR stock price is now -3.07% away from the 50-day moving average and -15.59% away from the 200-day moving average. The market capitalization of the company currently stands at $4.49B.
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In total, 3 analysts have assigned it a hold rating, and 13 have given it a buy rating. Brokers who have rated the stock have averaged $41.75 as their price target over the next twelve months.
In other news, RAYMOND MARY JANE, CFO & Treasurer sold 4,000 shares of the company’s stock on Mar 02. The stock was sold for $164,186 at an average price of $41.05. Upon completion of the transaction, the CFO & Treasurer now directly owns 175,856 shares in the company, valued at $5.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01, Director Xia Howard H. sold 2,270 shares of the business’s stock. A total of $98,007 was realized by selling the stock at an average price of $43.17. This leaves the insider owning 39,601 shares of the company worth $1.28 million. Insiders disposed of 243,059 shares of company stock worth roughly $7.87 million over the past 1 year. A total of 1.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in COHR stock. A new stake in Coherent Corp. shares was purchased by LOOMIS SAYLES & CO L P during the first quarter worth $12,386,000. GREAT LAKES ADVISORS, LLC invested $7,425,000 in shares of COHR during the first quarter. In the first quarter, HUNTER PERKINS CAPITAL MANAGEMENT, LLC acquired a new stake in Coherent Corp. valued at approximately $4,706,000. TEGEAN CAPITAL MANAGEMENT, LLC acquired a new stake in COHR for approximately $4,535,000. WOODLINE PARTNERS LP purchased a new stake in COHR valued at around $4,139,000 in the second quarter. In total, there are 578 active investors with 90.20% ownership of the company’s stock.
With an opening price of $31.28 on Thursday morning, Coherent Corp. (NYSE: COHR) set off the trading day. During the past 12 months, Coherent Corp. has had a low of $26.29 and a high of $64.94. As of last week, the company has a debt-to-equity ratio of 0.92, a current ratio of 3.10, and a quick ratio of 1.80. The fifty day moving average price for COHR is $33.35 and a two-hundred day moving average price translates $38.28 for the stock.
The latest earnings results from Coherent Corp. (NYSE: COHR) was released for Mar, 2023. According to the Scientific & Technical Instruments Company, earnings per share came in at $0.58, missing analysts’ expectations of $0.82 by -0.24. This compares to $1.35 EPS in the same period last year. The net profit margin was -3.40% and return on equity was -3.80% for COHR. The company reported revenue of $1.24 billion for the quarter, compared to $370.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 235.0 percent. For the current quarter, analysts expect COHR to generate $1.15B in revenue.
Coherent Corp.(COHR) Company Profile
Coherent Corp. develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates in two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication. The Photonic Solutions segment manufactures transceivers for data centers and telecom optical networks; pump lasers, optical amplifiers, wavelength selective switches, and advanced components for telecom networks; and crystal materials, optics, lasers, and optoelectronic modules in a range of applications, including optical communications, life sciences, and consumer electronics markets. The company serves original equipment manufacturers, laser end users, system integrators of high-power lasers, U.S. government prime contractors, and various U.S. government agencies, as well as manufacturers of equipment and devices for industrial, optical communications, consumer electronics, and security and monitoring applications. The company was formerly known as II-VI Incorporated and changed its name to Coherent Corp. in September 2022. Coherent Corp. was incorporated in 1971 and is headquartered in Saxonburg, Pennsylvania.
