Russell Investments Group Ltd. increased its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 76.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,488 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,667 shares during the period. Russell Investments Group Ltd.’s holdings in Coherent were worth $1,462,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Coherent by 29.6% in the third quarter. Alps Advisors Inc. now owns 2,669 shares of the scientific and technical instruments company’s stock worth $460,000 after acquiring an additional 609 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Coherent during the third quarter worth approximately $34,534,000. Terril Brothers Inc. raised its stake in shares of Coherent by 104.3% during the third quarter. Terril Brothers Inc. now owns 117,271 shares of the scientific and technical instruments company’s stock worth $20,193,000 after buying an additional 59,878 shares during the last quarter. BTIM Corp. raised its stake in shares of Coherent by 15.1% during the third quarter. BTIM Corp. now owns 141,633 shares of the scientific and technical instruments company’s stock worth $24,387,000 after buying an additional 18,597 shares during the last quarter. Finally, SG Capital Management LLC bought a new stake in shares of Coherent during the third quarter worth approximately $1,168,000.
A number of equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Coherent from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Zacks Investment Research downgraded shares of Coherent from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Barclays dropped their price target on shares of Coherent from $218.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. Stifel Nicolaus set a $185.00 price target on shares of Coherent and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Finally, Longbow Research downgraded shares of Coherent from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $218.00.
COHR opened at $119.71 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.04 billion, a P/E ratio of 9.18 and a beta of 1.40. Coherent, Inc. has a fifty-two week low of $115.53 and a fifty-two week high of $329.00.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.96 by $0.26. The business had revenue of $461.50 million during the quarter, compared to the consensus estimate of $460.60 million. Coherent had a net margin of 13.00% and a return on equity of 25.89%. Coherent’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 earnings per share. On average, equities research analysts anticipate that Coherent, Inc. will post 10.37 earnings per share for the current fiscal year.
In related news, Director Pamela Fletcher sold 458 shares of the business’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $132.75, for a total transaction of $60,799.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.
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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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