Fintel reports that on June 21, 2023, Northland Capital Markets downgraded their outlook for Coherent (NASDAQ:COHR) from Outperform to Market Perform .

Analyst Price Forecast Suggests 22.67% Downside

As of June 2, 2023, the average one-year price target for Coherent is 42.77. The forecasts range from a low of 29.29 to a high of $89.25. The average price target represents a decrease of 22.67% from its latest reported closing price of 55.31.

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The projected annual revenue for Coherent is 5,543MM, an increase of 14.48%. The projected annual non-GAAP EPS is 3.85.

What is the Fund Sentiment?

There are 873 funds or institutions reporting positions in Coherent. This is an increase of 4 owner(s) or 0.46% in the last quarter. Average portfolio weight of all funds dedicated to COHR is 0.25%, an increase of 12.23%. Total shares owned by institutions increased in the last three months by 2.03% to 157,307K shares. The put/call ratio of COHR is 0.37, indicating a bullish outlook.

What are Other Shareholders Doing?

Dodge & Cox holds 19,343K shares representing 13.88% 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 8.11% ownership of the company. No change in the last quarter.

Macquarie Group holds 5,042K shares representing 3.62% ownership of the company. In it’s prior filing, the firm reported owning 4,575K shares, representing an increase of 9.26%. The firm increased its portfolio allocation in COHR by 20.27% over the last quarter.

American Century Companies holds 4,625K shares representing 3.32% ownership of the company. In it’s prior filing, the firm reported owning 4,630K shares, representing a decrease of 0.11%. The firm increased its portfolio allocation in COHR by 4.51% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,287K shares representing 3.08% 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.

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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A (Amendment No. 1)

This article originally appeared on Fintel

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