Shelton Capital Management bought a new position in Coherent, Inc. (NASDAQ:COHR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,598 shares of the scientific and technical instruments company’s stock, valued at approximately $585,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Flinton Capital Management LLC increased its stake in shares of Coherent by 73.8% in the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock worth $263,000 after purchasing an additional 496 shares in the last quarter. Regis Management CO LLC increased its stake in shares of Coherent by 168.3% in the second quarter. Regis Management CO LLC now owns 9,565 shares of the scientific and technical instruments company’s stock worth $2,152,000 after purchasing an additional 6,000 shares in the last quarter. Odey Asset Management Group Ltd purchased a new position in shares of Coherent in the second quarter worth about $720,000. Goldman Sachs Group Inc. increased its stake in shares of Coherent by 213.4% in the second quarter. Goldman Sachs Group Inc. now owns 210,889 shares of the scientific and technical instruments company’s stock worth $47,448,000 after purchasing an additional 143,606 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Coherent in the second quarter worth about $1,124,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Shares of Coherent, Inc. (NASDAQ:COHR) traded up 0.91% during trading on Monday, reaching $247.32. 11,175 shares of the company traded hands. The company has a market capitalization of $6.09 billion, a P/E ratio of 37.24 and a beta of 0.78. The company’s 50-day moving average price is $239.03 and its 200-day moving average price is $233.45. Coherent, Inc. has a 52 week low of $100.01 and a 52 week high of $281.00.

Coherent (NASDAQ:COHR) last released 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 Thomson Reuters’ consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million during the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The company’s revenue was up 112.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Equities research analysts forecast that Coherent, Inc. will post $12.27 EPS for the current fiscal year.

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COHR has been the subject of several recent research reports. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Longbow Research reiterated a “buy” rating and issued a $325.00 target price on shares of Coherent in a research note on Wednesday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 target price (up previously from $270.00) on shares of Coherent in a research note on Friday, June 30th. ValuEngine upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price (up previously from $265.00) on shares of Coherent in a research note on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $293.22.

In related news, Director Stephen A. Skaggs sold 500 shares of the 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 completion of the sale, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $2,502,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was 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. Corporate insiders own 1.40% of the company’s stock.

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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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