State of Alaska Department of Revenue grew its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 32.3% during the third quarter, Holdings Channel reports. The institutional investor owned 2,844 shares of the scientific and technical instruments company’s stock after acquiring an additional 694 shares during the quarter. State of Alaska Department of Revenue’s holdings in Coherent were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Coherent by 5.5% during the second quarter. BlackRock Inc. now owns 2,276,061 shares of the scientific and technical instruments company’s stock worth $356,022,000 after buying an additional 119,540 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in Coherent by 57.0% during the second quarter. OppenheimerFunds Inc. now owns 1,103,326 shares of the scientific and technical instruments company’s stock worth $172,582,000 after buying an additional 400,681 shares during the last quarter. Carillon Tower Advisers Inc. boosted its holdings in Coherent by 1.5% during the second quarter. Carillon Tower Advisers Inc. now owns 813,013 shares of the scientific and technical instruments company’s stock worth $127,171,000 after buying an additional 11,621 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in Coherent by 6.9% during the second quarter. Epoch Investment Partners Inc. now owns 635,597 shares of the scientific and technical instruments company’s stock worth $99,420,000 after buying an additional 41,113 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Coherent by 14.1% during the second quarter. Artisan Partners Limited Partnership now owns 488,877 shares of the scientific and technical instruments company’s stock worth $76,470,000 after buying an additional 60,528 shares during the last quarter. Hedge funds and other institutional investors own 97.61% of the company’s stock.

In other news, EVP Mark Stewart Sobey sold 13,000 shares of Coherent stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $3,252,929.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.97% of the company’s stock.

COHR has been the topic of a number of recent analyst reports. ValuEngine upgraded Coherent from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Needham & Company LLC cut their price objective on Coherent from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Benchmark reiterated a “buy” rating and set a $216.00 price objective (down previously from $242.00) on shares of Coherent in a report on Wednesday, August 1st. BidaskClub upgraded Coherent from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, Northcoast Research cut Coherent from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Coherent presently has an average rating of “Hold” and a consensus target price of $229.57.

NASDAQ:COHR opened at $123.57 on Tuesday. Coherent, Inc. has a fifty-two week low of $120.77 and a fifty-two week high of $329.00. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.21 billion, a PE ratio of 9.65 and a beta of 1.04.

Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). Coherent had a net margin of 12.84% and a return on equity of 28.01%. The business had revenue of $482.00 million for the quarter, compared to the consensus estimate of $491.31 million. During the same quarter last year, the firm earned $3.36 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts expect that Coherent, Inc. will post 13.12 EPS for the current fiscal year.

Coherent Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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