Fintel reports that on August 17, 2023, Craig-Hallum maintained coverage of Coherent (NASDAQ:COHR) with a Buy recommendation.
Analyst Price Forecast Suggests 57.39% Upside
As of August 2, 2023, the average one-year price target for Coherent is 51.89. The forecasts range from a low of 40.40 to a high of $89.25. The average price target represents an increase of 57.39% from its latest reported closing price of 32.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Coherent is 5,952MM, an increase of 15.35%. The projected annual non-GAAP EPS is 4.74.
What is the Fund Sentiment?
There are 864 funds or institutions reporting positions in Coherent. This is a decrease of 2 owner(s) or 0.23% in the last quarter. Average portfolio weight of all funds dedicated to COHR is 0.35%, an increase of 43.96%. Total shares owned by institutions increased in the last three months by 2.88% to 160,094K shares. 
The put/call ratio of COHR is 0.27, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 19,343K shares representing 12.93% ownership of the company. In it's prior filing, the firm reported owning 19,056K shares, representing an increase of 1.48%. The firm increased its portfolio allocation in COHR by 9.42% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,297K shares representing 7.55% ownership of the company. No change in the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,287K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 4,283K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in COHR by 3.94% over the last quarter.
Macquarie Group holds 3,964K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 5,042K shares, representing a decrease of 27.20%. The firm decreased its portfolio allocation in COHR by 10.11% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 3,820K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 3,815K shares, representing an increase of 0.13%. The firm increased its portfolio allocation in COHR by 6.00% over the last quarter.
Coherent Background Information
(This description is provided by the company.)
II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, materials processing, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets. Headquartered in Saxonburg, Pennsylvania, U.S.A., the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software to support its customers.
Additional reading:
- Amended and Restated Certificate of Incorporation of Coherent, Inc.
- Amended and Restated Bylaws of Coherent, Inc.
- II-VI INCORPORATED COMPLETES THE ACQUISITION OF COHERENT, FORMING A GLOBAL LEADER IN MATERIALS, NETWORKING, AND LASERS The combined company will be named Coherent and will trade under the ticker symbol COHR on the Nasdaq stock market on a date soon t
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