Virginia Retirement Systems ET AL lessened its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 34.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,200 shares of the scientific and technical instruments company’s stock after selling 4,800 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Coherent were worth $2,164,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smithfield Trust Co. bought a new position in Coherent during the second quarter worth about $199,000. Daiwa Securities Group Inc. bought a new position in Coherent during the second quarter worth about $202,000. WESPAC Advisors LLC bought a new position in Coherent during the second quarter worth about $211,000. Coldstream Capital Management Inc. increased its position in Coherent by 3.1% during the second quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after acquiring an additional 30 shares during the period. Finally, BB&T Securities LLC bought a new position in Coherent during the second quarter worth about $236,000. Institutional investors own 97.06% of the company’s stock.
Coherent, Inc. (NASDAQ COHR) opened at $274.15 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. Coherent, Inc. has a 1-year low of $128.21 and a 1-year high of $320.73. The company has a market cap of $6,800.00, a PE ratio of 24.35 and a beta of 0.81.
In other Coherent news, CEO John Ambroseo sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,414 shares of company stock worth $11,450,570. Insiders own 1.40% of the company’s stock.
A number of research firms recently commented on COHR. Benchmark reaffirmed a “buy” rating and set a $290.00 price target (down from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Stifel Nicolaus raised their price target on shares of Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Susquehanna Bancshares reaffirmed a “positive” rating and set a $275.00 price target on shares of Coherent in a research report on Tuesday, September 5th. Finally, Barclays raised their price target on shares of Coherent from $285.00 to $315.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Coherent presently has a consensus rating of “Buy” and a consensus price target of $309.89.
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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).
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