Coherent (COHR) Receives a Hold from Needham

In a report released today, James Ricchiuti from Needham maintained a Hold rating on Coherent (COHR). The company’s shares closed last Friday at $257.99, close to its 52-week high of $264.64.

According to, Ricchiuti is a top 100 analyst with an average return of 26.3% and a 69.3% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and TTM Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for Coherent with a $210.33 average price target, implying a -17.3% downside from current levels. In a report issued on February 11, Benchmark Co. also downgraded the stock to Hold.

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Based on Coherent’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $326 million and net profit of $144K. In comparison, last year the company earned revenue of $321 million and had a net profit of $5.79 million.

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Coherent, Inc. engages in the design, manufacture, and service of lasers and related accessories. It operates through the OEM Laser Sources (OLS), and Industrial Lasers and Systems (ILS) business segments. The OLS segment focuses on laser sources and complex optical sub-systems, typically used in microelectronics manufacturing, medical diagnostics, and therapeutic medical applications. The ILS segment covers laser sources, sub-systems, and tools primarily used for industrial laser materials processing. The company was founded by Eugene Watson on May 26, 1966 and is headquartered in Santa Clara, CA.

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