Trexquant Investment LP Takes Position in Coherent, Inc. (NASDAQ:COHR)

Trexquant Investment LP bought a new position in shares of Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,400 shares of the scientific and technical instruments company’s stock, valued at approximately $1,890,000. Coherent comprises about 0.5% of Trexquant Investment LP’s investment portfolio, making the stock its 8th largest position.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Coherent by 124,951.8% in the first quarter. BlackRock Inc. now owns 2,486,029 shares of the scientific and technical instruments company’s stock worth $511,226,000 after buying an additional 2,484,041 shares during the period. Epoch Investment Partners Inc. acquired a new stake in Coherent during the first quarter valued at about $114,876,000. Alliancebernstein L.P. boosted its stake in Coherent by 1,420.6% in the first quarter. Alliancebernstein L.P. now owns 556,538 shares of the scientific and technical instruments company’s stock valued at $114,446,000 after buying an additional 519,939 shares during the period. Harbour Capital Advisors LLC boosted its stake in Coherent by 28,934.4% in the second quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock valued at $1,355,000 after buying an additional 303,811 shares during the period. Finally, State Street Corp boosted its stake in Coherent by 42.3% in the first quarter. State Street Corp now owns 766,435 shares of the scientific and technical instruments company’s stock valued at $157,609,000 after buying an additional 227,897 shares during the period. Hedge funds and other institutional investors own 92.40% of the company’s stock.

Coherent, Inc. (COHR) traded up 1.52% on Friday, reaching $218.36. The company’s stock had a trading volume of 488,742 shares. Coherent, Inc. has a 1-year low of $100.01 and a 1-year high of $278.39. The stock has a 50 day moving average price of $242.38 and a 200-day moving average price of $219.85. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 32.88 and a beta of 0.72.

Coherent (NASDAQ:COHR) last released its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by $0.09. The business had revenue of $464.10 million during the quarter, compared to the consensus estimate of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The firm’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. Equities analysts predict that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on the company. Benchmark Co. restated a “buy” rating and set a $290.00 price objective (down previously from $295.00) on shares of Coherent in a report on Tuesday, August 8th. Barclays PLC began coverage on Coherent in a report on Monday, August 7th. They set an “overweight” rating and a $285.00 price objective on the stock. Zacks Investment Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, August 7th. UBS AG upgraded Coherent from a “neutral” rating to a “positive” rating in a report on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc upgraded Coherent from a “neutral” rating to a “positive” rating and lifted their target price for the company from $255.00 to $275.00 in a report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Coherent currently has a consensus rating of “Buy” and an average price target of $268.88.

In other news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the completion of the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Ambroseo sold 24,970 shares of Coherent stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $248.08, for a total transaction of $6,194,557.60. The disclosure for this sale can be found here. In the last three months, insiders sold 30,374 shares of company stock valued at $7,495,118. Insiders own 1.40% of the company’s stock.

Coherent Company 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).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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