AMP Capital Investors Ltd Invests $682,000 in Coherent, Inc. (COHR)

AMP Capital Investors Ltd purchased a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,900 shares of the scientific and technical instruments company’s stock, valued at approximately $682,000.

Other hedge funds have also recently made changes to their positions in the company. WESPAC Advisors LLC bought a new position in Coherent during the second quarter valued at about $211,000. Coldstream Capital Management Inc. boosted its stake 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 valued at $227,000 after buying an additional 30 shares in the last quarter. BB&T Securities LLC bought a new position in Coherent during the second quarter valued at about $236,000. DekaBank Deutsche Girozentrale boosted its stake in Coherent by 97.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock valued at $238,000 after buying an additional 524 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its stake in Coherent by 73.8% during the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $263,000 after buying an additional 496 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Coherent, Inc. (NASDAQ:COHR) opened at $294.04 on Friday. 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 1 year low of $135.01 and a 1 year high of $320.73. The firm has a market capitalization of $7,361.09, a price-to-earnings ratio of 24.94 and a beta of 0.81.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share 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 business had revenue of $490.00 million during the quarter, compared to analyst estimates of $475.24 million. During the same quarter last year, the company posted $1.65 EPS. Coherent’s revenue for the quarter was up 97.2% on a year-over-year basis. research analysts expect that Coherent, Inc. will post 15.56 earnings per share for the current fiscal year.

In related news, VP Bret Dimarco sold 5,819 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $294.75, for a total value of $1,715,150.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sold a total of 18,416 shares of company stock valued at $5,490,028 in the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on COHR shares. ValuEngine cut Coherent from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Benchmark reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a research note on Thursday, October 12th. Northcoast Research reaffirmed a “buy” rating and set a $314.00 target price (up previously from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Finally, Needham & Company LLC raised their target price on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Coherent presently has an average rating of “Buy” and an average price target of $309.89.

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About Coherent

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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