Municipal Employees Retirement System of Michigan decreased its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 21.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,450 shares of the scientific and technical instruments company’s stock after selling 2,060 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Coherent were worth $1,752,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in Coherent by 0.3% during the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock valued at $442,000 after buying an additional 5 shares during the last quarter. Coldstream Capital Management Inc. raised 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 during the last quarter. Creative Planning raised its stake in Coherent by 8.3% during the second quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock valued at $272,000 after buying an additional 92 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Coherent by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock valued at $271,000 after buying an additional 117 shares during the last quarter. Finally, ETRADE Capital Management LLC raised its stake in Coherent by 2.2% during the second quarter. ETRADE Capital Management LLC now owns 6,775 shares of the scientific and technical instruments company’s stock valued at $1,524,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 91.57% of the company’s stock.

In related news, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Ambroseo sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. Insiders sold 36,914 shares of company stock worth $9,768,670 over the last 90 days. Company insiders own 1.40% of the company’s stock.

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A number of analysts have commented on COHR shares. Stifel Nicolaus lifted their target price on Coherent from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Barclays PLC lifted their target price on Coherent from $285.00 to $315.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price (up previously from $265.00) on shares of Coherent in a report on Wednesday, August 2nd. Benchmark Co. reissued a “buy” rating and issued a $290.00 target price (down previously from $295.00) on shares of Coherent in a report on Wednesday, August 2nd. Finally, Northcoast Research reissued a “buy” rating and issued a $314.00 target price (up previously from $311.00) on shares of Coherent in a report on Tuesday, September 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $309.89.

Coherent, Inc. (NASDAQ:COHR) opened at $302.74 on Thursday. Coherent, Inc. has a 52-week low of $124.94 and a 52-week high of $314.76. The company has a market capitalization of $7,460.00, a PE ratio of 25.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 2.14.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $475.24 million. During the same period in the previous year, the business earned $1.65 earnings per share. The business’s revenue was up 97.2% on a year-over-year basis. sell-side analysts predict that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

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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