You might want to take a look at Coherent Corp. (COHR) now

Coherent Corp. (NASDAQ: COHR) stock jumped 0.87% on Tuesday to $35.93 against a previous-day closing price of $35.62. With 1.25 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.91 million shares. During the session, the Scientific & Technical Instruments company that operates in wider Technology sector, reached to the highest price of $35.97 whereas the lowest price it dropped to was $34.77. The 52-week range on COHR shows that it touched its highest point at $75.05 and its lowest point at $29.90 during that stretch. It currently has a 1-year price target of $60.93. Beta for the stock currently stands at 1.46.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COHR was down-trending over the past week, with a drop of -13.32%, but this was up by 11.51% over a month. Three-month performance dropped to -34.53% while six-month performance fell -37.27%. The stock lost -44.23% in the past year, while it has lost -47.42% so far this year. A look at the trailing 12-month EPS for COHR yields 0.39 with Next year EPS estimates of 4.65. For the next quarter, that number is 0.93. This implies an EPS growth rate of -36.00% for this year and 23.11% for next year. EPS is expected to grow by 13.03% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -0.40%.

Float and Shares Shorts:

At present, 138.69 million COHR shares are outstanding with a float of 136.45 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.81 million, which was 4.92% higher than short shares on Sep 14, 2022. In addition to Dr. Vincent D. Mattera Jr., Ph.D. as the firm’s Board Chair & CEO, Mr. Walter Robert Bashaw II serves as its Pres.


Institutional Ownership:

Through their ownership of 76.64% of COHR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.09% of COHR, in contrast to 38.79% held by mutual funds. Shares owned by individuals account for 0.44%. As the largest shareholder in COHR with 12.29% of the stake, Dodge & Cox holds 17,045,517 shares worth 17,045,517. A second-largest stockholder of COHR, The Vanguard Group, Inc., holds 10,676,437 shares, controlling over 7.70% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in COHR, holding 9,968,419 shares or 7.19% stake. With a 8.15% stake in COHR, the Dodge & Cox Stock Fund is the largest stakeholder. A total of 11,296,700 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.82% of COHR stock, is the second-largest Mutual Fund holder. It holds 3,895,554 shares valued at 130.93 million. Vanguard Total Stock Market Index holds 2.38% of the stake in COHR, owning 3,300,925 shares worth 110.94 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COHR since 18 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With COHR analysts setting a high price target of $118.00 and a low target of $30.00, the average target price over the next 12 months is $60.93. Based on these targets, COHR could surge 228.42% to reach the target high and fall by -16.5% to reach the target low. Reaching the average price target will result in a growth of 69.58% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. COHR will report FY 2023 earnings on 08/08/2023. Analysts have provided yearly estimates in a range of $4.16 being high and $3.50 being low. For COHR, this leads to a yearly average estimate of $3.78. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Coherent Corp. surprised analysts by $0.21 when it reported $1.04 EPS against a consensus estimate of $0.83. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $1.00 and the low estimate is $0.90. The average estimate for the next quarter is thus $0.93.

Summary of Insider Activity:

Insiders traded COHR stock several times over the past three months with 21 Buys and 9 Sells. In these transactions, 290,591 shares were bought while 50,560 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 775,351 while 284,207 shares were sold.

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