Coherent (NASDAQ:COHR) Rating Maintained

They currently have a $294.0 target on Coherent (NASDAQ:COHR). Needham’s target would suggest a potential upside of 42.79 % from the company’s current price. This was released in analysts note on Thursday morning.

NASDAQ:COHR is currently trading 0.00% lower at $265.47 as of 4:05 PM New York time. Coherent’s stock is 0% over the last 200 days. It has underperformed the S&P500 Index, which has increased 6.00% over the same time.

Out of 5 brokers covering Coherent, 5 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. The highest target is $116 and the lowest is $102 according to Thomson/First Call. The 12-month mean target is $110.6, which means downside potential of 58.34% over the current price.

Institutional Ownership

Central Securities Corp had the largest stake with ownership of 425,000 shares as of Q2 2015 for 10.2% of the fund’s portfolio. Value Holdings Lp is another bull as the active investment manager who is owning 98,673 shares of Coherent or 6.4% of their fund’s portfolio. Also, Springbank Value Partners Lp have 6.15% of their fund’s portfolio invested in the company for 36,454 shares. The Illinois-based fund Westwood Management Corp Il revealed it had purchased so far a stake worth about 3.75% of the active investment manager’s stock portfolio in Coherent. The California-based fund Neumeier Poma Investment Counsel Llc is also positive about the stock, possessing 190,600 shares or 2.36% of their fund’s portfolio.

Coherent (NASDAQ:COHR) Profile

Coherent, Inc. is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Coherent (NASDAQ:COHR) closed at $265.47 yesterday. A total of 7,634 shares of the company’s stock traded hands. This is down from average of 396,218 shares. Coherent has a 52 week low of $115.00 and a 52 week high of $281. The company has a market cap of $6.54B and a P/E ratio of 39.42.

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