Fintel reports that on September 21, 2023, Rosenblatt reiterated coverage of Coherent (NASDAQ:COHR) with a Buy recommendation.
Analyst Price Forecast Suggests 41.46% Upside
As of August 31, 2023, the average one-year price target for Coherent is 42.65. The forecasts range from a low of 35.35 to a high of $66.15. The average price target represents an increase of 41.46% from its latest reported closing price of 30.15.
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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 828 funds or institutions reporting positions in Coherent. This is a decrease of 45 owner(s) or 5.15% in the last quarter. Average portfolio weight of all funds dedicated to COHR is 0.37%, an increase of 43.95%. Total shares owned by institutions increased in the last three months by 1.12% to 159,073K shares. 
The put/call ratio of COHR is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 19,922K shares representing 13.25% ownership of the company. In it's prior filing, the firm reported owning 19,343K shares, representing an increase of 2.91%. The firm increased its portfolio allocation in COHR by 35.03% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 11,333K shares representing 7.54% ownership of the company. In it's prior filing, the firm reported owning 11,297K shares, representing an increase of 0.32%. The firm increased its portfolio allocation in COHR by 28.77% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,385K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 3,668K shares, representing an increase of 16.34%. The firm increased its portfolio allocation in COHR by 47.64% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,228K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 4,287K shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in COHR by 26.47% over the last quarter.
Macquarie Group holds 3,964K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 5,042K shares, representing a decrease of 27.20%. The firm increased its portfolio allocation in COHR by 8.83% 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.
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This story originally appeared on Fintel.
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