Coherent, Inc. (COHR) Position Lowered by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. decreased its holdings in Coherent, Inc. (NASDAQ:COHR) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,049 shares of the scientific and technical instruments company’s stock after selling 1,075 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Coherent were worth $247,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Pictet Asset Management Ltd. bought a new stake in Coherent in the third quarter valued at about $25,361,000. First Trust Advisors LP increased its holdings in Coherent by 368.8% in the third quarter. First Trust Advisors LP now owns 78,933 shares of the scientific and technical instruments company’s stock valued at $18,563,000 after buying an additional 62,094 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Coherent in the third quarter valued at about $353,000. BB&T Corp increased its holdings in Coherent by 67.2% in the third quarter. BB&T Corp now owns 1,939 shares of the scientific and technical instruments company’s stock valued at $456,000 after buying an additional 779 shares during the last quarter. Finally, Skylands Capital LLC grew its holdings in shares of Coherent by 2.0% during the third quarter. Skylands Capital LLC now owns 160,750 shares of the scientific and technical instruments company’s stock valued at $37,804,000 after purchasing an additional 3,100 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.
COHR has been the subject of several recent research reports. ValuEngine lowered Coherent from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Benchmark reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a report on Thursday, October 12th. Northcoast Research reaffirmed a “buy” rating and set a $314.00 target price (up from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $290.00 price objective on shares of Coherent in a report on Wednesday, September 13th. Finally, Needham & Company LLC increased their price objective on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $309.89.
Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.24. The business had revenue of $490.00 million during the quarter, compared to analyst estimates of $475.24 million. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business’s revenue for the quarter was up 97.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. analysts anticipate that Coherent, Inc. will post 15.56 earnings per share for the current fiscal year.
In other Coherent news, VP Bret Dimarco sold 5,819 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $294.75, for a total value of $1,715,150.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul F. Sechrist sold 1,002 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $288.88, for a total value of $289,457.76. The disclosure for this sale can be found here. Insiders sold 43,416 shares of company stock valued at $11,740,028 over the last 90 days. 1.40% of the stock is currently owned by insiders.
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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