NJ State Employees Deferred Compensation Plan raised its position in shares of Coherent, Inc. (NASDAQ:COHR) by 42.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,500 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Coherent were worth $682,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in COHR. Pictet Asset Management Ltd. raised its stake in Coherent by 74.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 614,170 shares of the scientific and technical instruments company’s stock valued at $87,040,000 after purchasing an additional 262,497 shares during the period. Norges Bank acquired a new stake in Coherent during the 4th quarter valued at $19,264,000. State of New Jersey Common Pension Fund D acquired a new stake in Coherent during the 1st quarter valued at $25,510,000. First Trust Advisors LP raised its stake in Coherent by 69.2% during the 1st quarter. First Trust Advisors LP now owns 254,250 shares of the scientific and technical instruments company’s stock valued at $36,032,000 after purchasing an additional 103,961 shares during the period. Finally, ACK Asset Management LLC acquired a new stake in Coherent during the 1st quarter valued at $12,201,000. 96.43% of the stock is currently owned by institutional investors.
Shares of NASDAQ COHR traded down $5.22 during mid-day trading on Friday, reaching $133.12. The company had a trading volume of 445,100 shares, compared to its average volume of 344,924. Coherent, Inc. has a twelve month low of $90.10 and a twelve month high of $192.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.97 and a quick ratio of 2.03. The firm has a market capitalization of $3.37 billion, a PE ratio of 10.21 and a beta of 1.82. The stock has a 50 day simple moving average of $134.44.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, July 30th. The scientific and technical instruments company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.28. Coherent had a net margin of 8.12% and a return on equity of 13.38%. The business had revenue of $339.17 million for the quarter, compared to the consensus estimate of $348.61 million. During the same period in the prior year, the business posted $3.51 earnings per share. Coherent’s revenue for the quarter was down 29.7% compared to the same quarter last year. Sell-side analysts forecast that Coherent, Inc. will post 4.92 EPS for the current fiscal year.
Several brokerages have issued reports on COHR. Susquehanna Bancshares downgraded shares of Coherent from a “positive” rating to a “neutral” rating and set a $140.00 target price on the stock. in a research note on Monday, April 29th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday. BidaskClub raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Zacks Investment Research raised shares of Coherent from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus upped their price target on shares of Coherent from $165.00 to $174.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Coherent has a consensus rating of “Hold” and an average target price of $159.17.
Coherent Company Profile
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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