Smithfield Trust Co. bought a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 885 shares of the scientific and technical instruments company’s stock, valued at approximately $199,000.

Other hedge funds have also recently bought and sold shares of the company. Hanson McClain Inc. raised its stake in Coherent by 54.5% in the first quarter. Hanson McClain Inc. now owns 709 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 250 shares during the period. Bank of Montreal Can raised its stake in Coherent by 11.4% in the first quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Coherent during the first quarter valued at $170,000. Coldstream Capital Management Inc. purchased a new stake in Coherent during the first quarter valued at $202,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Coherent during the second quarter valued at $202,000. 92.94% of the stock is currently owned by institutional investors.

Shares of Coherent, Inc. (NASDAQ COHR) opened at 219.58 on Tuesday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 33.06 and a beta of 0.72. Coherent, Inc. has a 1-year low of $100.01 and a 1-year high of $278.39. The company’s 50 day moving average price is $250.07 and its 200-day moving average price is $215.08.

Coherent (NASDAQ:COHR) last issued its earnings results on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.45 by $0.09. The company had revenue of $464.10 million during the quarter, compared to analyst estimates of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The business’s revenue was up 112.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Equities analysts expect that Coherent, Inc. will post $12.44 EPS for the current fiscal year.

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A number of analysts recently commented on COHR shares. BidaskClub raised Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 price objective (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. Longbow Research reaffirmed a “buy” rating and set a $325.00 price objective on shares of Coherent in a research note on Wednesday, June 28th. Needham & Company LLC increased their price objective on Coherent from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a research note on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $268.88.

In other news, EVP Mark Stewart Sobey sold 4,904 shares of Coherent stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $243.02, for a total transaction of $1,191,770.08. Following the transaction, the executive vice president now owns 12,397 shares in the company, valued at $3,012,718.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction on Monday, May 15th. The shares were sold at an average price of $249.48, for a total value of $124,740.00. Following the transaction, the director now owns 12,000 shares in the company, valued at approximately $2,993,760. The disclosure for this sale can be found here. Insiders sold a total of 34,874 shares of company stock worth $8,667,703 over the last 90 days. Insiders own 1.40% of the company’s stock.

About Coherent

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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