Peregrine Asset Advisers Inc. Has $225,000 Position in Coherent, Inc. (COHR)
Peregrine Asset Advisers Inc. cut its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,000 shares of the scientific and technical instruments company’s stock after selling 500 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Coherent were worth $225,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. TD Asset Management Inc. acquired a new stake in shares of Coherent during the first quarter worth $567,000. Marshall Wace North America L.P. acquired a new stake in shares of Coherent during the first quarter worth $1,597,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Coherent during the first quarter worth $1,613,000. American Century Companies Inc. acquired a new stake in shares of Coherent during the first quarter worth $4,661,000. Finally, SG Americas Securities LLC grew its stake in shares of Coherent by 117.8% during the second quarter. SG Americas Securities LLC now owns 6,783 shares of the scientific and technical instruments company’s stock worth $1,526,000 after purchasing an additional 3,668 shares during the period. 90.23% of the stock is owned by institutional investors and hedge funds.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $217.58, for a total transaction of $108,790.00. Following the completion of the sale, the director now directly owns 11,500 shares in the company, valued at approximately $2,502,170. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Coherent, Inc. (COHR) traded up 2.742% on Tuesday, reaching $252.735. The company’s stock had a trading volume of 405,163 shares. Coherent, Inc. has a 12 month low of $100.01 and a 12 month high of $278.39. The company has a market cap of $6.23 billion, a P/E ratio of 38.051 and a beta of 0.76. The stock’s 50 day moving average price is $232.31 and its 200 day moving average price is $225.47.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share 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 net margin of 11.08% and a return on equity of 24.98%. The business’s revenue for the quarter was up 112.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. Equities research analysts forecast that Coherent, Inc. will post $12.27 earnings per share for the current year.
COHR has been the subject of a number of analyst reports. 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. BidaskClub cut Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 price objective (up from $270.00) on shares of Coherent in a research note on Friday, June 30th. ValuEngine raised Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective (up from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Coherent currently has an average rating of “Buy” and an average price target of $268.88.
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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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