Seven Eight Capital LP acquired a new position in Coherent, Inc. (NASDAQ:COHR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,900 shares of the scientific and technical instruments company’s stock, valued at approximately $2,227,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COHR. Riverhead Capital Management LLC increased its holdings in Coherent by 81.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,998 shares of the scientific and technical instruments company’s stock valued at $450,000 after purchasing an additional 898 shares during the period. Oak Ridge Investments LLC increased its holdings in Coherent by 37.5% during the 2nd quarter. Oak Ridge Investments LLC now owns 15,668 shares of the scientific and technical instruments company’s stock valued at $3,525,000 after purchasing an additional 4,269 shares during the period. AXA increased its holdings in Coherent by 52.2% during the 2nd quarter. AXA now owns 35,300 shares of the scientific and technical instruments company’s stock valued at $7,942,000 after purchasing an additional 12,100 shares during the period. Franklin Resources Inc. increased its holdings in Coherent by 22.4% during the 2nd quarter. Franklin Resources Inc. now owns 86,900 shares of the scientific and technical instruments company’s stock valued at $19,552,000 after purchasing an additional 15,900 shares during the period. Finally, WESPAC Advisors LLC purchased a new position in Coherent during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

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Shares of Coherent, Inc. (COHR) opened at 250.75 on Thursday. Coherent, Inc. has a 52-week low of $100.01 and a 52-week high of $278.39. The company has a market capitalization of $6.18 billion, a PE ratio of 37.75 and a beta of 0.76. The firm’s 50-day moving average price is $232.11 and its 200 day moving average price is $226.11.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.45 by ($0.09). Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. During the same period last year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 112.1% compared to the same quarter last year. On average, equities analysts forecast that Coherent, Inc. will post $12.27 earnings per share for the current year.

A number of research analysts recently issued reports on COHR shares. BidaskClub upgraded Coherent from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Stifel Nicolaus restated a “buy” rating and set a $290.00 price target on shares of Coherent in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $270.00 price target (up previously from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Barclays PLC started coverage on Coherent in a report on Monday, August 7th. They set an “overweight” rating and a $285.00 price target on the stock. Finally, ValuEngine downgraded Coherent from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $291.88.

In other news, Director Stephen A. Skaggs sold 500 shares of the firm’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 transaction of $108,790.00. Following the transaction, the director now directly owns 11,500 shares of the company’s stock, valued at $2,502,170. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of the firm’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 transaction of $6,250,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Coherent 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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