In a report released today, James Ricchiuti from Needham reiterated a Hold rating on Coherent (COHR). The company’s shares closed last Wednesday at $261.95, close to its 52-week high of $270.99.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 22.4% and a 64.9% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.
Currently, the analyst consensus on Coherent is a Hold with an average price target of $260.00, representing a -0.4% downside. In a report issued on May 18, Barclays also initiated coverage with a Hold rating on the stock with a $250.00 price target.
See today’s analyst top recommended stocks >>
Based on Coherent’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $374 million and GAAP net loss of $158 million. In comparison, last year the company earned revenue of $293 million and had a GAAP net loss of $419 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
