Coherent (COHR) Receives a Hold from Needham

Needham analyst James Ricchiuti assigned a Hold rating to Coherent (COHRResearch Report) today. The company’s shares closed last Tuesday at $197.01.

According to TipRanks.com, Ricchiuti is a top 100 analyst with an average return of 24.6% and a 69.6% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and Faro Technologies.

Currently, the analyst consensus on Coherent is a Hold with an average price target of $150.00.

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Based on Coherent’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $317 million and net profit of $7.69 million. In comparison, last year the company earned revenue of $335 million and had a net profit of $624K.

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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.