Franklin Resources Inc. raised its holdings in Coherent, Inc. (NASDAQ:COHR) by 60.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,964 shares of the scientific and technical instruments company’s stock after purchasing an additional 128,500 shares during the period. Franklin Resources Inc.’s holdings in Coherent were worth $58,538,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Coherent by 11.0% in the 2nd quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock valued at $27,564,000 after purchasing an additional 17,451 shares in the last quarter. Value Holdings Management CO. LLC raised its position in shares of Coherent by 13.4% during the 2nd quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after acquiring an additional 4,000 shares in the last quarter. Robecosam AG raised its position in shares of Coherent by 75.0% during the 3rd quarter. Robecosam AG now owns 70,000 shares of the scientific and technical instruments company’s stock valued at $12,050,000 after acquiring an additional 30,000 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Coherent during the 2nd quarter valued at approximately $867,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Coherent during the 2nd quarter valued at approximately $254,000.
In other news, Director Pamela Fletcher sold 458 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $132.75, for a total value of $60,799.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.
COHR has been the topic of several analyst reports. Longbow Research set a $215.00 target price on Coherent and gave the stock a “buy” rating in a research report on Thursday, August 23rd. ValuEngine lowered Coherent from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Benchmark reaffirmed a “buy” rating and issued a $216.00 target price on shares of Coherent in a research report on Thursday, September 13th. Zacks Investment Research raised Coherent from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Northcoast Research lowered Coherent from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $218.00.
Shares of NASDAQ COHR opened at $124.77 on Friday. Coherent, Inc. has a 1-year low of $115.53 and a 1-year high of $329.00. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 9.87 and a beta of 1.40.
Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.26. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The firm had revenue of $461.50 million for the quarter, compared to analyst estimates of $460.60 million. During the same period last year, the company earned $3.72 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts anticipate that Coherent, Inc. will post 10.37 EPS for the current fiscal year.
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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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