Benchmark Co. Believes COHR Won’t Stop HereBy Ryan Adsit
Benchmark Co. analyst Mark Miller reiterated a Buy rating on Coherent (NASDAQ: COHR) today and set a price target of $125. The company’s shares closed yesterday at $120.35, close to its 52-week high of $120.50.
According to TipRanks.com, Miller is a 4-star analyst with an average return of 3.4% and a 60.0% success rate. Miller covers the Technology sector, focusing on stocks such as Hutchinson Technology Inc, Rofin-Sinar Technologies, and Axcelis Technologies.
Currently, the analyst consensus on Coherent is Moderate Buy and the average price target is $127.50, representing a 5.9% upside.
In a report issued on November 3, Needham also reiterated a Buy rating on the stock with a $130 price target.
Coherent’s market cap is currently $2.92B and has a P/E ratio of 33.62. The company has a book value ratio of 3.3572.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, William Krause, a Director at COHR sold 1,215 shares for a total of $128,912.
Coherent, Inc. engages in the design, manufacture, and trade of laser diodes and equipment. It operates through the Specialty Lasers and Systems; and Commercial Lasers and Components. The Specialty Lasers and Systems segment offers products for microelectronics, scientific research, and original equipment manufacturers. The Commercial Lasers and Components segment produces accessories in set configurations. Its products include laser cutting, measurement, and machining tools. The company was founded by Eugene Watson on May 26, 1966 and is headquartered in Santa Clara, CA.