Coherent, Inc. (COHR) Position Boosted by Earnest Partners LLC

Earnest Partners LLC increased its holdings in Coherent, Inc. (NASDAQ:COHR) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,910 shares of the scientific and technical instruments company’s stock after buying an additional 6,066 shares during the quarter. Coherent comprises 1.5% of Earnest Partners LLC’s portfolio, making the stock its 14th largest holding. Earnest Partners LLC owned about 2.59% of Coherent worth $149,782,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC grew its holdings in 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 worth $1,526,000 after buying an additional 3,668 shares in the last quarter. Tygh Capital Management Inc. grew its holdings in Coherent by 36.4% in the 3rd quarter. Tygh Capital Management Inc. now owns 35,672 shares of the scientific and technical instruments company’s stock worth $8,389,000 after buying an additional 9,529 shares in the last quarter. Stevens Capital Management LP bought a new position in Coherent in the 2nd quarter worth approximately $4,051,000. Flinton Capital Management LLC grew its holdings in Coherent by 73.8% in the 2nd quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after buying an additional 496 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in Coherent in the 2nd quarter worth approximately $458,000. 97.06% of the stock is owned by institutional investors and hedge funds.

In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on 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 in the company, valued at approximately $3,398,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul F. Sechrist sold 1,002 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $288.88, for a total value of $289,457.76. The disclosure for this sale can be found here. Insiders have sold a total of 43,416 shares of company stock valued at $11,740,028 in the last quarter. Insiders own 1.40% of the company’s stock.

COHR has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Benchmark upped their target price on Coherent from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Needham & Company LLC upped their target price on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Summit Redstone restated a “buy” rating and issued a $320.00 target price on shares of Coherent in a research report on Saturday, September 23rd. Finally, Northcoast Research restated a “buy” rating and issued a $314.00 target price (up 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 stock presently has a consensus rating of “Buy” and a consensus target price of $309.89.

Shares of Coherent, Inc. (NASDAQ COHR) opened at $292.95 on Friday. The firm has a market capitalization of $7,173.46, a P/E ratio of 24.31 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.13 and a quick ratio of 2.14. Coherent, Inc. has a 52-week low of $129.62 and a 52-week high of $320.73.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The company had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s quarterly revenue was up 97.2% compared to the same quarter last year. equities analysts predict that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

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Coherent 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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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