Advisor Group Inc. lifted its holdings in Coherent, Inc. (NASDAQ:COHR) by 33.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,187 shares of the scientific and technical instruments company’s stock after purchasing an additional 547 shares during the period. Advisor Group Inc.’s holdings in Coherent were worth $491,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. TD Asset Management Inc. acquired a new stake in shares of Coherent in the 1st quarter valued at $567,000. Marshall Wace North America L.P. acquired a new stake in shares of Coherent in the 1st quarter valued at $1,597,000. SG Americas Securities LLC lifted its stake in shares of Coherent by 117.8% in the 2nd quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock valued at $1,526,000 after purchasing an additional 3,668 shares during the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Coherent in the 1st quarter valued at $1,613,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Coherent in the 2nd quarter valued at $4,051,000. 90.21% of the stock is owned by institutional investors and hedge funds.
Coherent, Inc. (COHR) opened at 245.09 on Friday. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 36.90 and a beta of 0.78. Coherent, Inc. has a 52-week low of $100.01 and a 52-week high of $281.00. The firm’s 50-day moving average is $239.03 and its 200-day moving average is $233.45.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. During the same period last year, the business earned $1.07 EPS. The business’s revenue was up 112.1% on a year-over-year basis. Analysts forecast that Coherent, Inc. will post $12.27 EPS for the current fiscal year.
In other news, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’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 sale, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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COHR has been the subject of several analyst reports. Longbow Research reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Coherent in a research note on Monday, June 12th. BidaskClub lowered shares of Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $290.00 price objective (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $255.00 price objective (up previously from $240.00) on shares of Coherent in a research note on Friday, June 30th. Finally, ValuEngine lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $293.22.
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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