Capital Fund Management S.A. bought a new position in Coherent Inc. (NASDAQ:COHR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,294 shares of the company’s stock, valued at approximately $1,128,000.
Several other large investors have also recently bought and sold shares of COHR. BlackRock Inc. boosted its stake in shares of Coherent by 165.2% in the first quarter. BlackRock Inc. now owns 1,745 shares of the company’s stock valued at $161,000 after buying an additional 1,087 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Coherent during the first quarter valued at $229,000. M&T Bank Corp bought a new stake in shares of Coherent during the first quarter valued at $246,000. Pacad Investment Ltd. bought a new stake in shares of Coherent during the first quarter valued at $248,000. Finally, Reynolds Capital Management LLC bought a new stake in shares of Coherent during the first quarter valued at $276,000. Institutional investors own 92.86% of the company’s stock.
Coherent Inc. (NASDAQ:COHR) traded down 1.99% on Friday, hitting $111.11. The stock had a trading volume of 172,797 shares. The stock has a market cap of $2.70 billion, a PE ratio of 32.33 and a beta of 0.83. Coherent Inc. has a 12 month low of $52.17 and a 12 month high of $113.83. The firm’s 50 day moving average price is $107.92 and its 200-day moving average price is $97.95.
Coherent (NASDAQ:COHR) last posted its earnings results on Wednesday, July 27th. The company reported $1.07 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by $0.04. Coherent had a net margin of 10.26% and a return on equity of 11.06%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.94 million. During the same quarter last year, the business earned $0.82 earnings per share. Coherent’s revenue was up 16.1% on a year-over-year basis. On average, analysts forecast that Coherent Inc. will post $4.62 EPS for the current year.
Several equities research analysts have weighed in on COHR shares. Benchmark Co. reduced their price objective on Coherent from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Zacks Investment Research cut Coherent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, Stifel Nicolaus boosted their price objective on Coherent from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Coherent currently has an average rating of “Buy” and a consensus price target of $104.00.
In related news, VP Bret Dimarco sold 953 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $109.75, for a total value of $104,591.75. Following the transaction, the vice president now directly owns 11,740 shares of the company’s stock, valued at approximately $1,288,465. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Ambroseo sold 25,979 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $110.00, for a total transaction of $2,857,690.00. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
Coherent, Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. The Company designs, manufactures, services and markets lasers, laser tools and related accessories for a diverse group of customers. It operates through two operating segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).
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