Comerica Bank cut its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 21.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,358 shares of the scientific and technical instruments company’s stock after selling 5,262 shares during the period. Comerica Bank owned about 0.08% of Coherent worth $4,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Epoch Investment Partners Inc. raised its position in shares of Coherent by 66.4% in the second quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock worth $209,157,000 after acquiring an additional 370,993 shares during the period. Earnest Partners LLC raised its position in shares of Coherent by 1.6% in the second quarter. Earnest Partners LLC now owns 630,844 shares of the scientific and technical instruments company’s stock worth $141,934,000 after acquiring an additional 9,641 shares during the period. FMR LLC raised its position in shares of Coherent by 23.2% in the second quarter. FMR LLC now owns 494,053 shares of the scientific and technical instruments company’s stock worth $111,157,000 after acquiring an additional 93,014 shares during the period. Koch Industries Inc. acquired a new position in shares of Coherent in the second quarter worth about $354,000. Finally, Harbour Capital Advisors LLC raised its position in shares of Coherent by 28,934.4% in the second quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock worth $1,355,000 after acquiring an additional 303,811 shares during the period. Institutional investors own 89.89% of the company’s stock.

A number of research analysts have weighed in on COHR shares. Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 price objective on shares of Coherent in a research report on Wednesday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective (up previously from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a research report on Tuesday, October 3rd. Barclays PLC started coverage on shares of Coherent in a research report on Monday, August 7th. They issued an “overweight” rating and a $285.00 price objective for the company. Finally, ValuEngine downgraded shares of Coherent from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Coherent presently has a consensus rating of “Buy” and a consensus price target of $309.89.

COPYRIGHT VIOLATION NOTICE: “Comerica Bank Decreases Position in Coherent, Inc. (COHR)” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.thecerbatgem.com/2017/11/23/comerica-bank-decreases-position-in-coherent-inc-cohr.html.

In related news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $308.97, for a total transaction of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at approximately $3,398,670. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 5,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $305.80, for a total transaction of $1,681,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,414 shares of company stock valued at $11,450,570. Insiders own 1.40% of the company’s stock.

Coherent, Inc. (COHR) opened at $314.83 on Thursday. Coherent, Inc. has a 1 year low of $124.94 and a 1 year high of $320.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.14 and a current ratio of 3.13. The firm has a market cap of $7,868.27, a PE ratio of 26.87 and a beta of 0.79.

Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same quarter in the prior year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 97.2% on a year-over-year basis. analysts forecast that Coherent, Inc. will post 15.56 earnings per share for the current year.

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)

Receive News & Stock Ratings for Coherent Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent Inc. and related stocks with our FREE daily email newsletter.