Emerald Advisers Inc. PA Cuts Position in Coherent, Inc. (COHR)

Emerald Advisers Inc. PA reduced its holdings in Coherent, Inc. (NASDAQ:COHR) by 91.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,714 shares of the scientific and technical instruments company’s stock after selling 28,153 shares during the quarter. Emerald Advisers Inc. PA’s holdings in Coherent were worth $638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in COHR. Smithfield Trust Co. acquired a new position in shares of Coherent in the 2nd quarter worth approximately $199,000. Daiwa Securities Group Inc. acquired a new position in shares of Coherent in the 2nd quarter worth approximately $202,000. WESPAC Advisors LLC acquired a new position in shares of Coherent in the 2nd quarter worth approximately $211,000. Penserra Capital Management LLC lifted its holdings in Coherent by 4.2% during the 2nd quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock worth $224,000 after buying an additional 234 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Coherent by 3.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after buying an additional 30 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

Coherent, Inc. (NASDAQ COHR) traded up $9.00 during mid-day trading on Tuesday, hitting $319.44. 262,808 shares of the company traded hands, compared to its average volume of 445,591. The company has a market cap of $7,870.00, a price-to-earnings ratio of 25.85 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.14 and a current ratio of 3.13. Coherent, Inc. has a 52 week low of $124.94 and a 52 week high of $319.54.

Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The business had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The firm’s revenue for the quarter was up 97.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 EPS. equities analysts predict that Coherent, Inc. will post 15.56 earnings per share for the current fiscal year.

In other Coherent news, Director Jay T. Flatley sold 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $305.80, for a total transaction of $1,681,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,414 shares of company stock valued at $11,450,570. Corporate insiders own 1.40% of the company’s stock.

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Several equities research analysts have issued reports on COHR shares. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective (up from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. Benchmark Co. reaffirmed a “buy” rating and issued a $290.00 price target (down from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, UBS AG raised shares of Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Coherent presently has an average rating of “Buy” and a consensus target price of $309.89.

Coherent Profile

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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