Coherent, Inc. | $COHR Stock | Shares Take a Tumble as Company Misses on Earnings


Coherent, Inc. (NASDAQ: COHR)


Coherent, Inc. (COHR), a global laser-based technology company yesterday reported their third quarter 2017 financial results.

They reported adjusted third quarter earnings of $3.36 per share which missed analyst expectations of $3.45 per share.

They also reported third quarter revenues of $464.1 million which fell short of analyst expectations of $466.90 million.   


Coherent, Inc. CEO’s  Comments

“We had another record-setting result in our most recent quarter and demand remains buoyant.  We booked a significant number of large format (i.e., Gen 5 or Gen 6) ELA tools for OLED manufacturing.  Utilization within OLED fabs is very high and with more installations moving into the service pool, ELA service orders and revenues continue to climb.  The outlook for FPD is bright with multiple new fabs having been announced or in the late stages of planning.  These new fabs will drive business predominantly in FY19 and beyond.  We will be prepared to satisfy the delivery schedule since we have started our previously announced facility expansions.  The overall materials processing business continues to perform well.  Most notably, we had very good traction during Q3 for high-power (i.e., 1-8 kilowatts) fiber lasers in battery welding for electric vehicles and metal cutting.  The pipeline is strong and outstrips our current capacity, which necessitates expansions in our diode packaging and fiber laser integration and testing operations.  The additional capacity will be staged over the next year,” said John Ambroseo, Coherent’s President and Chief Executive Officer.  “We had another quarter of strong cash flow and we made a voluntary €45 million principal prepayment on our debt.  Using excess cash flow to pay down the debt will remain a priority,” Ambroseo added.  PR Newswire


COHR Technical Analysis


COHR opened trading yesterday at $269.40 which was up from the previous day’s trading close of $265.00. COHR closed trading yesterday at $271.00 and spiked down after market to $234.00, equivalent to a 13% decrease from the closing price. Taking a look at the daily chart we can see the last time COHR traded below these levels we have to go back to July 6th when it traded at lows of $226.93.

Taking a closer look at the daily chart we can see that before the spike down COHR had been in an overall upward trend dating back to January 23rd when it traded at $146.93. COHR has a float of 24.4 million shares and traded 1.78 times the normal daily trading volume on Tuesday.

For trading purposes, I would like to see COHR open trading on Wednesday below $246.00 and if it does I would be looking to take a short position at the bell. My stop loss would be $1.50 from my entry position fearing anything more than that and the stock would start to fill in the gap down.


Company Profile

Coherent, Inc. provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components.

The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories. Its products are used in markets, such as microelectronics, materials processing, original equipment manufacturer components and instrumentation, and scientific research and government programs.

The company markets its products through a direct sales force in the United States, as well as through direct sales personnel and independent representatives internationally. Coherent Inc. was founded in 1966 and is headquartered in Santa Clara, California.  Yahoo Finance




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