William Blair Investment Management LLC Acquires 72,959 Shares of Coherent, Inc. (COHR)
William Blair Investment Management LLC increased its holdings in Coherent, Inc. (NASDAQ:COHR) by 20.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423,300 shares of the scientific and technical instruments company’s stock after acquiring an additional 72,959 shares during the quarter. William Blair Investment Management LLC owned approximately 1.71% of Coherent worth $119,464,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in COHR. Carillon Tower Advisers Inc. acquired a new position in Coherent in the 4th quarter valued at $213,124,000. TimesSquare Capital Management LLC boosted its position in shares of Coherent by 421.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 372,300 shares of the scientific and technical instruments company’s stock worth $105,071,000 after purchasing an additional 300,900 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Coherent during the 3rd quarter worth $48,672,000. Renaissance Technologies LLC boosted its position in shares of Coherent by 146.8% during the 4th quarter. Renaissance Technologies LLC now owns 265,800 shares of the scientific and technical instruments company’s stock worth $75,014,000 after purchasing an additional 158,100 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Coherent by 118.3% during the 4th quarter. Deutsche Bank AG now owns 250,643 shares of the scientific and technical instruments company’s stock worth $70,733,000 after purchasing an additional 135,813 shares in the last quarter. 98.38% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on COHR. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, January 18th. Barclays set a $325.00 target price on shares of Coherent and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stifel Nicolaus decreased their target price on shares of Coherent from $330.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Northcoast Research restated a “buy” rating and set a $314.00 target price on shares of Coherent in a research report on Monday, February 12th. Finally, Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “buy” rating and set a $337.00 target price on the stock in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $312.22.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 EPS for the quarter, topping the consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The business had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. During the same period in the previous year, the firm earned $2.57 EPS. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. analysts anticipate that Coherent, Inc. will post 14.62 earnings per share for the current fiscal year.
Coherent declared that its board has initiated a share buyback plan on Wednesday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, EVP Paul F. Sechrist sold 1,372 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the sale, the executive vice president now directly owns 2,497 shares in the company, valued at approximately $749,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Skaggs sold 500 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the sale, the director now owns 10,500 shares in the company, valued at $2,228,835. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
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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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