Public Employees Retirement System of Ohio grew its holdings in Coherent, Inc. (NASDAQ:COHR) by 190.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,923 shares of the scientific and technical instruments company’s stock after buying an additional 22,257 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.14% of Coherent worth $7,978,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WESPAC Advisors LLC bought a new position in shares of Coherent in the 2nd quarter worth approximately $211,000. Penserra Capital Management LLC increased its position 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 valued at $224,000 after buying an additional 234 shares in the last quarter. Coldstream Capital Management Inc. increased its position 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 valued at $227,000 after buying an additional 30 shares in the last quarter. BB&T Securities LLC bought a new position in Coherent during the 2nd quarter valued at approximately $236,000. Finally, DekaBank Deutsche Girozentrale increased its position in Coherent by 97.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after buying an additional 524 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the sale, the director now directly owns 11,000 shares of the company’s stock, valued at $3,398,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Bret Dimarco sold 5,819 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. Insiders sold 19,788 shares of company stock worth $5,901,628 over the last ninety days. Insiders own 1.40% of the company’s stock.
A number of analysts have commented on the company. Benchmark reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a report on Thursday, October 12th. Needham & Company LLC lifted their target price on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Stifel Nicolaus raised their price target on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Summit Redstone restated a “buy” rating and issued a $320.00 price target on shares of Coherent in a research note on Saturday, September 23rd. Finally, Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target on the stock in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $319.22.
Shares of Coherent, Inc. (NASDAQ:COHR) traded up $4.41 during trading on Friday, hitting $301.57. The stock had a trading volume of 200,510 shares, compared to its average volume of 354,396. Coherent, Inc. has a fifty-two week low of $143.74 and a fifty-two week high of $320.73. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $7,480.00, a P/E ratio of 35.86 and a beta of 0.82.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The firm had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $475.24 million. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 97.2% compared to the same quarter last year. analysts forecast that Coherent, Inc. will post 15.56 earnings per share for the current year.
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Coherent Company 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).
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