22,531 Shares in Coherent, Inc. (COHR) Acquired by Airain ltd
Airain ltd bought a new stake in shares of Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 22,531 shares of the scientific and technical instruments company’s stock, valued at approximately $5,069,000. Airain ltd owned 0.09% of Coherent at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Hanson McClain Inc. increased its position 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 last quarter. Bank of Montreal Can increased its position 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 last quarter. Asset Management One Co. Ltd. purchased a new position in Coherent during the first quarter valued at about $170,000. Smithfield Trust Co. purchased a new position in Coherent during the second quarter valued at about $199,000. Finally, Coldstream Capital Management Inc. purchased a new position in Coherent during the first quarter valued at about $202,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Coherent, Inc. (NASDAQ:COHR) opened at 220.05 on Monday. The firm’s 50-day moving average price is $241.26 and its 200 day moving average price is $222.09. Coherent, Inc. has a 12 month low of $100.01 and a 12 month high of $278.39. The firm has a market capitalization of $5.42 billion, a P/E ratio of 33.13 and a beta of 0.72.
Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.45 by $0.09. The business 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 for the quarter was up 112.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. Analysts anticipate that Coherent, Inc. will post $12.27 earnings per share for the current fiscal year.
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COHR has been the topic of several analyst reports. BidaskClub raised Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Longbow Research reaffirmed a “buy” rating and set a $325.00 price target on shares of Coherent in a research report on Wednesday, June 28th. Needham & Company LLC increased their price target on Coherent from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Stifel Nicolaus increased their price target on Coherent from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Finally, Benchmark Co. reaffirmed a “buy” rating on shares of Coherent in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Coherent has a consensus rating of “Buy” and a consensus target price of $268.88.
In other news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total value of $108,790.00. Following the transaction, the director now owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
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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