State of Tennessee Treasury Department bought a new stake in Coherent, Inc. (NASDAQ:COHR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the scientific and technical instruments company’s stock, valued at approximately $4,703,000. State of Tennessee Treasury Department owned 0.08% of Coherent as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Smithfield Trust Co. bought a new stake in shares of Coherent in the second quarter valued at about $199,000. Daiwa Securities Group Inc. bought a new stake in shares of Coherent in the second quarter valued at about $202,000. WESPAC Advisors LLC bought a new stake in shares of Coherent in the second quarter valued at about $211,000. Coldstream Capital Management Inc. raised its stake in Coherent by 3.1% in 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 purchasing an additional 30 shares in the last quarter. Finally, BB&T Securities LLC acquired a new position in Coherent in the second quarter valued at about $236,000. 91.57% of the stock is owned by institutional investors.

Coherent, Inc. (COHR) opened at $300.07 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.14 and a current ratio of 3.13. The company has a market capitalization of $7,421.95, a PE ratio of 25.34 and a beta of 0.79. Coherent, Inc. has a 52 week low of $124.94 and a 52 week high of $314.76.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.48 by $0.24. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business’s quarterly revenue was up 97.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. sell-side analysts forecast that Coherent, Inc. will post 15.15 EPS for the current year.

A number of research analysts recently commented on the company. Benchmark Co. boosted their price target on Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Barclays PLC assumed coverage on Coherent in a research note on Monday, August 7th. They issued an “overweight” rating and a $285.00 price target for the company. Needham & Company LLC boosted their price target on Coherent from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. UBS AG raised Coherent from a “neutral” rating to a “positive” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. 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. The stock has a consensus rating of “Buy” and a consensus target price of $309.89.

In other Coherent news, 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 transaction of $6,250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandeep Vij sold 4,400 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $292.79, for a total value of $1,288,276.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,914 shares of company stock valued at $9,768,670. Insiders own 1.40% of the company’s stock.

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Coherent Company 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).

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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