AlphaStar Capital Management LLC Acquires New Stake in Coherent, Inc. (COHR)

AlphaStar Capital Management LLC acquired a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,141 shares of the scientific and technical instruments company’s stock, valued at approximately $322,000.

A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. increased its position in Coherent by 3.3% during the fourth quarter. BlackRock Inc. now owns 2,061,486 shares of the scientific and technical instruments company’s stock valued at $581,791,000 after acquiring an additional 66,248 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Coherent by 3.6% during the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after acquiring an additional 33,295 shares during the last quarter. Earnest Partners LLC increased its position in Coherent by 1.0% during the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after acquiring an additional 6,066 shares during the last quarter. NWQ Investment Management Company LLC increased its position in Coherent by 10.9% during the third quarter. NWQ Investment Management Company LLC now owns 446,953 shares of the scientific and technical instruments company’s stock valued at $105,110,000 after acquiring an additional 43,822 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Coherent by 25.3% during the third quarter. Allianz Asset Management GmbH now owns 316,510 shares of the scientific and technical instruments company’s stock valued at $74,433,000 after acquiring an additional 63,851 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

In related news, EVP Paul F. Sechrist sold 1,372 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the sale, the executive vice president now directly owns 2,497 shares of the company’s stock, valued at $749,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul F. Sechrist sold 1,002 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $288.88, for a total transaction of $289,457.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,874 shares of company stock valued at $807,193. 1.40% of the stock is owned by insiders.

A number of research analysts have weighed in on COHR shares. Needham & Company LLC boosted their price objective on shares of Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Benchmark boosted their target price on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Stifel Nicolaus boosted their target price on shares of Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Barclays boosted their target price on shares of Coherent from $285.00 to $315.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research lowered shares of Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Coherent has a consensus rating of “Buy” and a consensus target price of $312.22.

Shares of Coherent, Inc. (COHR) opened at $210.89 on Friday. The stock has a market cap of $5,230.00, a price-to-earnings ratio of 29.41 and a beta of 0.65. Coherent, Inc. has a one year low of $179.60 and a one year high of $329.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18.

Coherent (NASDAQ:COHR) last issued its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.02. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business’s revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 earnings per share. sell-side analysts predict that Coherent, Inc. will post 14.62 EPS for the current fiscal year.

Coherent announced that its board has authorized a share buyback program on Wednesday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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