Hillsdale Investment Management Inc. purchased a new position in Coherent, Inc. (NASDAQ:COHR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,300 shares of the scientific and technical instruments company’s stock, valued at approximately $306,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smithfield Trust Co. purchased a new stake in shares of Coherent in the second quarter valued at $199,000. Daiwa Securities Group Inc. purchased a new stake in shares of Coherent in the second quarter valued at $202,000. WESPAC Advisors LLC purchased a new stake in shares of Coherent in the second quarter valued at $211,000. Penserra Capital Management LLC grew its position in shares of Coherent by 4.2% in the second quarter. Penserra Capital Management LLC now owns 5,791 shares of the scientific and technical instruments company’s stock valued at $224,000 after purchasing an additional 234 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in shares of Coherent by 3.1% in the second quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock valued at $227,000 after purchasing an additional 30 shares during the period. 97.66% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on COHR shares. Stifel Nicolaus lifted their price objective on Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Benchmark lifted their price objective on Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Needham & Company LLC lifted their price objective on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Summit Redstone reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Coherent in a research report on Saturday, September 23rd. Finally, Northcoast Research reaffirmed a “buy” rating and issued a $314.00 price objective (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $309.89.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $3,398,670. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay T. Flatley sold 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $305.80, for a total value of $1,681,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,414 shares of company stock valued at $11,450,570. 1.40% of the stock is owned by company insiders.
Shares of Coherent, Inc. (COHR) opened at $289.57 on Friday. Coherent, Inc. has a 1 year low of $125.45 and a 1 year high of $320.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.14 and a current ratio of 3.13. The stock has a market capitalization of $7,186.84, a PE ratio of 24.35 and a beta of 0.81.
Coherent (NASDAQ:COHR) last posted its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the previous year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 97.2% compared to the same quarter last year. equities research analysts forecast that Coherent, Inc. will post 15.56 EPS for the current year.
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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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