Sterling Capital Management LLC lowered its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 338,737 shares of the scientific and technical instruments company’s stock after selling 4,438 shares during the period. Sterling Capital Management LLC’s holdings in Coherent were worth $58,327,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank raised its holdings in shares of Coherent by 326.7% during the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock worth $100,000 after buying an additional 490 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Coherent during the 2nd quarter worth $145,000. Chicago Partners Investment Group LLC raised its holdings in shares of Coherent by 814.4% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,143 shares of the scientific and technical instruments company’s stock worth $179,000 after buying an additional 1,018 shares in the last quarter. Centre Asset Management LLC acquired a new position in shares of Coherent during the 3rd quarter worth $274,000. Finally, Weil Company Inc. acquired a new position in shares of Coherent during the 2nd quarter worth $252,000. 97.95% of the stock is owned by institutional investors.
In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total value of $2,364,180.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.
A number of research firms have recently commented on COHR. Northcoast Research reissued a “buy” rating and set a $217.00 price target on shares of Coherent in a report on Thursday, August 2nd. Benchmark reissued a “buy” rating and set a $216.00 price target (down previously from $242.00) on shares of Coherent in a report on Wednesday, August 1st. Zacks Investment Research cut Coherent from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 31st. Stifel Nicolaus lowered their target price on Coherent from $218.00 to $214.00 and set a “buy” rating for the company in a report on Friday, July 27th. Finally, TheStreet cut Coherent from a “b” rating to a “c+” rating in a report on Friday, October 19th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $218.57.
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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