Alps Advisors Inc. raised its stake in Coherent, Inc. (NASDAQ:COHR) by 29.6% during the third quarter, Holdings Channel reports. The institutional investor owned 2,669 shares of the scientific and technical instruments company’s stock after buying an additional 609 shares during the quarter. Alps Advisors Inc.’s holdings in Coherent were worth $460,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of COHR. Toronto Dominion Bank lifted its stake in Coherent by 326.7% in the second quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock valued at $100,000 after buying an additional 490 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Coherent in the second quarter valued at $145,000. Chicago Partners Investment Group LLC lifted its stake in Coherent by 814.4% in the second quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock valued at $179,000 after buying an additional 1,018 shares during the last quarter. Weil Company Inc. bought a new stake in Coherent in the second quarter valued at $252,000. Finally, WINTON GROUP Ltd bought a new stake in Coherent in the second quarter valued at $254,000. Institutional investors own 98.77% of the company’s stock.
COHR has been the topic of a number of research analyst reports. Longbow Research lowered Coherent from a “buy” rating to a “neutral” rating in a report on Tuesday, October 9th. ValuEngine lowered Coherent from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Benchmark lowered their price target on Coherent from $216.00 to $212.00 and set a “buy” rating on the stock in a report on Wednesday. Northcoast Research lowered Coherent from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Finally, Needham & Company LLC lowered their price target on Coherent from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $218.00.
In other news, EVP Mark Stewart Sobey sold 13,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
Shares of COHR opened at $131.30 on Friday. The firm has a market cap of $3.30 billion, a PE ratio of 10.37 and a beta of 1.37. The company has a current ratio of 3.32, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. Coherent, Inc. has a one year low of $115.53 and a one year high of $329.00.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.96 by $0.26. The company had revenue of $461.50 million for the quarter, compared to analyst estimates of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company earned $3.72 earnings per share. Sell-side analysts anticipate that Coherent, Inc. will post 11.43 EPS for the current year.
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Coherent 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.
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