Globeflex Capital L P cut its stake in Coherent, Inc. (NASDAQ:COHR) by 6.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,982 shares of the scientific and technical instruments company’s stock after selling 1,150 shares during the period. Coherent comprises approximately 0.9% of Globeflex Capital L P’s portfolio, making the stock its 7th largest position. Globeflex Capital L P owned about 0.07% of Coherent worth $3,821,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in COHR. Bank of Montreal Can lifted 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 worth $167,000 after purchasing an additional 83 shares during the last quarter. First Trust Advisors LP lifted its stake in Coherent by 3.1% in the first quarter. First Trust Advisors LP now owns 25,658 shares of the scientific and technical instruments company’s stock worth $5,276,000 after purchasing an additional 765 shares during the last quarter. American Century Companies Inc. bought a new stake in Coherent in the first quarter worth $4,661,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coherent by 66.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,089 shares of the scientific and technical instruments company’s stock worth $224,000 after purchasing an additional 436 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Coherent by 1.8% in the first quarter. Swiss National Bank now owns 40,688 shares of the scientific and technical instruments company’s stock worth $8,367,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.

Several analysts have weighed in on the stock. Longbow Research reissued a “buy” rating and issued a $325.00 price target on shares of Coherent in a research note on Monday, June 12th. Benchmark Co. reissued a “buy” rating and issued a $290.00 price target (down from $295.00) on shares of Coherent in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. ValuEngine raised shares of Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of Coherent from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Coherent currently has an average rating of “Buy” and a consensus price target of $291.88.

Coherent, Inc. (NASDAQ:COHR) traded down 0.57% during mid-day trading on Friday, reaching $254.41. 362,360 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $230.30 and a 200-day moving average price of $228.71. Coherent, Inc. has a 12-month low of $100.01 and a 12-month high of $281.00. The stock has a market capitalization of $6.27 billion, a PE ratio of 38.30 and a beta of 0.76.

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 for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.09). Coherent had a net margin of 11.08% and a return on equity of 24.98%. The company had revenue of $464.10 million for the quarter, compared to the consensus estimate of $466.90 million. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s quarterly revenue was up 112.1% compared to the same quarter last year. Equities research analysts expect that Coherent, Inc. will post $12.27 EPS for the current year.

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In related news, Director Stephen A. Skaggs sold 500 shares of Coherent stock in a transaction dated Monday, August 14th. The shares were 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 owns 11,500 shares in the company, valued at approximately $2,502,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Ambroseo sold 25,000 shares of Coherent stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Coherent 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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