Coherent, Inc. (COHR) Shares Bought by Rhumbline Advisers
Rhumbline Advisers boosted its position in shares of Coherent, Inc. (NASDAQ:COHR) by 7.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,444 shares of the company’s stock after buying an additional 2,441 shares during the period. Rhumbline Advisers owned 0.15% of Coherent worth $3,918,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its position in shares of Coherent by 13.6% in the third quarter. Eagle Asset Management Inc. now owns 1,613,812 shares of the company’s stock worth $178,390,000 after buying an additional 193,103 shares during the period. Westwood Management Corp IL bought a new stake in Coherent during the third quarter worth about $21,069,000. Elk Creek Partners LLC bought a new stake in Coherent during the second quarter worth about $12,616,000. BlackRock Fund Advisors raised its stake in Coherent by 7.7% in the third quarter. BlackRock Fund Advisors now owns 1,693,610 shares of the company’s stock worth $187,212,000 after buying an additional 120,897 shares in the last quarter. Finally, Allianz Asset Management AG bought a new stake in Coherent during the second quarter worth about $9,153,000. Institutional investors own 92.67% of the company’s stock.
Shares of Coherent, Inc. (NASDAQ:COHR) opened at 145.86 on Friday. Coherent, Inc. has a 12 month low of $56.72 and a 12 month high of $145.88. The stock’s 50 day moving average price is $134.08 and its 200 day moving average price is $112.00. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 40.74 and a beta of 0.80.
Coherent (NASDAQ:COHR) last released its earnings results on Wednesday, November 2nd. The company reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.13. The firm earned $248.50 million during the quarter, compared to analyst estimates of $241.76 million. Coherent had a return on equity of 11.69% and a net margin of 10.21%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 earnings per share. Equities research analysts predict that Coherent, Inc. will post $7.84 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on COHR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $130.00) on shares of Coherent in a research report on Monday, November 14th. Zacks Investment Research raised Coherent from a “hold” rating to a “strong-buy” rating and set a $134.00 price target on the stock in a research report on Tuesday, November 8th. Northcoast Research started coverage on Coherent in a research report on Tuesday, October 25th. They issued a “buy” rating and a $130.00 price target on the stock. Stifel Nicolaus increased their price target on Coherent from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $112.00) on shares of Coherent in a research report on Thursday, November 10th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Coherent presently has an average rating of “Buy” and an average target price of $134.83.
In other Coherent news, EVP Mark Stewart Sobey sold 4,593 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $119.00, for a total transaction of $546,567.00. Following the completion of the sale, the executive vice president now owns 18,020 shares of the company’s stock, valued at $2,144,380. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Luis Spinelli sold 4,328 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $126.02, for a total value of $545,414.56. Following the sale, the vice president now directly owns 11,221 shares of the company’s stock, valued at approximately $1,414,070.42. The disclosure for this sale can be found here. Company insiders own 1.83% 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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