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Coherent Corp. (NYSE: COHR) Is Worth Evaluating At $35.17

During the recent session, Coherent Corp. (NYSE:COHR)’s traded shares were 1.2 million, with the beta value of the company hitting 1.51. At the last check today, the stock’s price was $35.17, reflecting an intraday gain of 8.58% or $2.78. The 52-week high for the COHR share is $64.94, that puts it down -84.65 from that peak though still a striking 25.25% gain since the share price plummeted to a 52-week low of $26.29. The company’s market capitalization is $4.49B, and the average intraday trading volume over the past 10 days was 1.86 million shares, and the average trade volume was 1.57 million shares over the past three months.

Coherent Corp. (COHR) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. COHR has a Sell rating from 1 analyst(s) out of 19 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 13 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.37.

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Coherent Corp. (NYSE:COHR) trade information

Coherent Corp. (COHR) registered a 8.58% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.58% in intraday trading to $35.17 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 14.60%, and it has moved by 5.05% in 30 days. Based on these gigs, the overall price performance for the year is -37.83%. The short interest in Coherent Corp. (NYSE:COHR) is 6.81 million shares and it means that shorts have 5.56 day(s) to cover.

The consensus price target of analysts on Wall Street is $41.75, which implies an increase of 15.76% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $29.00 and $85.00 respectively. As a result, COHR is trading at a discount of -141.68% off the target high and 17.54% off the low.

Coherent Corp. (COHR) estimates and forecasts

Statistics show that Coherent Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Coherent Corp. (COHR) shares have gone down -5.16% during the last six months, with a year-to-date growth rate less than the industry average at -20.16% against 19.00. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -62.20% this quarter and then drop -54.80% in the quarter after that. In the rating firms’ projections, revenue will increase 53.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.15 billion as predicted by 16 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to $1.16 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $886.96 million and $1.35 billion respectively. In this case, analysts expect current quarter sales to grow by 29.50% and then drop by -13.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -0.40%. While earnings are projected to return -36.00% in 2023, the next five years will return 13.63% per annum.

COHR Dividends

Coherent Corp. is due to release its next quarterly earnings between August 22 and August 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Coherent Corp. (NYSE:COHR)’s Major holders

Coherent Corp. insiders own 1.61% of total outstanding shares while institutional holders control 91.07%, with the float percentage being 92.56%. Dodge & Cox Inc is the largest shareholder of the company, while 578 institutions own stock in it. As of Mar 30, 2023, the company held over 19.34 million shares (or 13.88% of all shares), a total value of $694.98 million in shares.

The next largest institutional holding, with 11.89 million shares, is of Blackrock Inc.’s that is approximately 8.53% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $427.16 million.

Also, the Mutual Funds coming in first place with the largest holdings of Coherent Corp. (COHR) shares are Dodge & Cox Stock Fund and iShares Core S&P Midcap ETF. Data provided on Dec 30, 2022 indicates that Dodge & Cox Stock Fund owns about 11.3 million shares. This amounts to just over 8.13 percent of the company’s overall shares, with a $405.89 million market value. The same data shows that the other fund manager holds slightly less at 4.32 million, or about 3.11% of the stock, which is worth about $155.18 million.

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