In yesterday’s Wall Street session, Coherent Corp. (NYSE:COHR) shares traded at $32.97, down -29.87% from the previous session.
19 analysts cover Coherent Corp. (NYSE:COHR), according to research data. 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 $35.00, we find $45.00. Given the previous closing price of $47.01, this indicates a potential downside of -4.28 percent. COHR stock price is now -30.62% away from the 50-day moving average and -16.63% away from the 200-day moving average. The market capitalization of the company currently stands at $4.75B.
The stock has received a hold rating from 8 analysts and a buy rating from 9. Brokers who have rated the stock have averaged $48.25 as their price target over the next twelve months.
With the price target maintained at $55, BofA Securities recently Downgraded its rating from Buy to Neutral for Coherent Corp. (NYSE: COHR).
In other news, MATTERA VINCENT D JR, Chief Executive Officer sold 5,000 shares of the company’s stock on Aug 04. The stock was sold for $250,000 at an average price of $50.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 566,215 shares in the company, valued at $18.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 01, President BASHAW WALTER ROBERT II sold 2,500 shares of the business’s stock. A total of $117,468 was realized by selling the stock at an average price of $46.99. This leaves the insider owning 100,843 shares of the company worth $3.32 million. Insiders disposed of 194,913 shares of company stock worth roughly $6.43 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 TAIREN CAPITAL LTD during the first quarter worth $109,755,000. VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. invested $30,516,000 in shares of COHR during the first quarter. In the first quarter, BLUEFIN CAPITAL MANAGEMENT, LLC acquired a new stake in Coherent Corp. valued at approximately $28,849,000. FENGHE FUND MANAGEMENT PTE. LTD. acquired a new stake in COHR for approximately $17,835,000. TWIN TREE MANAGEMENT, LP purchased a new stake in COHR valued at around $17,492,000 in the second quarter. In total, there are 575 active investors with 90.20% ownership of the company’s stock.
During the past 12 months, Coherent Corp. has had a low of $26.29 and a high of $60.46. 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 $47.42 and a two-hundred day moving average price translates $39.54 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 $0.41, beating analysts’ expectations of $0.38 by 0.03. 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 $1.17B 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.
