Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,206 shares of the scientific and technical instruments company’s stock after buying an additional 117 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coherent were worth $271,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Coherent by 11.4% during the 1st quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Coherent during the 1st quarter valued at about $170,000. Smithfield Trust Co. purchased a new stake in shares of Coherent during the 2nd quarter valued at about $199,000. Daiwa Securities Group Inc. purchased a new stake in shares of Coherent during the 2nd quarter valued at about $202,000. Finally, Symmetry Peak Management LLC purchased a new stake in shares of Coherent during the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 90.23% of the company’s stock.
Several brokerages recently commented on COHR. Longbow Research reiterated a “buy” rating and set a $325.00 target price on shares of Coherent in a report on Monday, June 12th. Benchmark Co. reiterated a “buy” rating and set a $290.00 target price (down from $295.00) on shares of Coherent in a report on Tuesday, August 8th. Zacks Investment Research downgraded Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded Coherent from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $291.88.
In related news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Shares of Coherent, Inc. (NASDAQ COHR) opened at 249.62 on Friday. Coherent, Inc. has a 52 week low of $100.01 and a 52 week high of $278.39. The firm’s 50-day moving average price is $230.87 and its 200-day moving average price is $226.48. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 37.58 and a beta of 0.76.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). Coherent had a return on equity of 24.98% and a net margin of 11.08%. The company had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. During the same period in the prior year, the firm earned $1.07 EPS. Coherent’s quarterly revenue was up 112.1% on a year-over-year basis. Equities research analysts expect that Coherent, Inc. will post $12.27 EPS for the current fiscal year.
Coherent Company 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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