Parametric Portfolio Associates LLC reduced its stake in Coherent, Inc. (NASDAQ:COHR) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,086 shares of the scientific and technical instruments company’s stock after selling 6,994 shares during the period. Parametric Portfolio Associates LLC owned 0.27% of Coherent worth $14,869,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new position in shares of Coherent in the 1st quarter worth $170,000. Smithfield Trust Co. bought a new position in shares of Coherent in the 2nd quarter worth $199,000. Daiwa Securities Group Inc. bought a new position in shares of Coherent in the 2nd quarter worth $202,000. Symmetry Peak Management LLC bought a new position in shares of Coherent in the 1st quarter worth $206,000. Finally, WESPAC Advisors LLC bought a new position in shares of Coherent in the 2nd quarter worth $211,000. Institutional investors and hedge funds own 90.21% of the company’s stock.
In other Coherent news, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the sale, the director now directly owns 11,500 shares in the company, valued at approximately $2,502,170. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Coherent, Inc. (NASDAQ:COHR) opened at 245.09 on Friday. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $281.00. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 36.90 and a beta of 0.78. The firm’s 50-day moving average price is $239.03 and its 200 day moving average price is $233.45.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). The company had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, analysts expect that Coherent, Inc. will post $12.27 earnings per share for the current year.
COHR has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target (up from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. Benchmark Co. restated a “buy” rating and issued a $290.00 price target (down from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, BidaskClub lowered Coherent from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price 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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