Coldstream Capital Management Inc. grew its position in shares of Coherent, Inc. (NASDAQ:COHR) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,010 shares of the scientific and technical instruments company’s stock after purchasing an additional 30 shares during the period. Coldstream Capital Management Inc.’s holdings in Coherent were worth $227,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new stake in shares of Coherent in the first quarter worth approximately $1,597,000. SG Americas Securities LLC boosted its position in shares of Coherent by 117.8% in the second quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock worth $1,526,000 after acquiring an additional 3,668 shares during the last quarter. Stevens Capital Management LP acquired a new stake in shares of Coherent in the second quarter worth approximately $4,051,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Coherent in the first quarter worth approximately $1,613,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Coherent by 24.9% in the second quarter. Russell Investments Group Ltd. now owns 83,119 shares of the scientific and technical instruments company’s stock worth $18,701,000 after acquiring an additional 16,577 shares during the last quarter. 90.21% of the stock is currently owned by institutional investors.
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Shares of Coherent, Inc. (COHR) traded up 2.08% on Thursday, reaching $253.16. 49,721 shares of the company’s stock were exchanged. The company has a market capitalization of $6.24 billion, a P/E ratio of 38.12 and a beta of 0.78. Coherent, Inc. has a 12 month low of $100.01 and a 12 month high of $281.00. The firm’s 50 day moving average price is $241.44 and its 200-day moving average price is $234.86.
Coherent (NASDAQ:COHR) last issued 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 analyst estimates of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. Coherent’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. On average, equities analysts anticipate that Coherent, Inc. will post $12.28 EPS for the current year.
Several research firms recently issued reports on COHR. Benchmark Co. reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a research report on Thursday. Zacks Investment Research raised shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 target price on the stock in a research report on Tuesday, October 3rd. Summit Redstone reissued a “buy” rating and issued a $320.00 target price on shares of Coherent in a research report on Saturday, September 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a research report on Wednesday, September 13th. Finally, Northcoast Research reissued 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 issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $293.22.
In related news, CEO John Ambroseo sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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