Coherent (COHR) Assembling Army of Ultrafast Laser Solutions

December 27, 2012 9:53 AM EST
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Price: $145.86 --0%

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    4 Buy, 3 Hold, 0 Sell

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Last week Coherent Inc (NASDAQ: COHR) announced that it had acquired privately held Lumera Laser GmbH (Kaiserslautern,Germany) for approximately $52 million in an all cash transaction.

Commenting on developments, analyst James Ricchiuti of Needham and Company said, "Lumera's UFPS lasers appear to be particularly well positioned for applications in the consumer electronics market. Along with its recent acquisitions of Innolight Innovative Laser, another German laser maker, and MiDAZ Lasers Limited, COHR appears to be assembling a strong suite of ultrafast laser solutions with which we believe the company can target the growing market opportunity for microfabrication of consumer electronics products, including smart phones, tablets and advanced displays."

Ricchiuti said he remains cautious near term on COHR due to weakness in research and microelectronics markets

Needham & Company has a Hold rating on Coherent (NASDAQ: COHR).

For an analyst ratings summary and ratings history on Coherent click here. For more ratings news on Coherent click here.

Shares of Coherent closed at $49.12 yesterday.

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