Nicholas Investment Partners LP lessened its holdings in shares of Coherent, Inc. (NASDAQ:COHR) by 42.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,063 shares of the scientific and technical instruments company’s stock after selling 6,030 shares during the period. Nicholas Investment Partners LP’s holdings in Coherent were worth $1,896,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Daiwa Securities Group Inc. bought a new position in Coherent in the 2nd quarter worth about $202,000. WESPAC Advisors LLC bought a new position in Coherent in the 2nd quarter worth about $211,000. Coldstream Capital Management Inc. grew its position in Coherent by 3.1% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after purchasing an additional 30 shares during the last quarter. BB&T Securities LLC bought a new position in Coherent in the 2nd quarter worth about $236,000. Finally, DekaBank Deutsche Girozentrale grew its position in Coherent by 97.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,064 shares of the scientific and technical instruments company’s stock worth $238,000 after purchasing an additional 524 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.
In other news, VP Bret Dimarco sold 5,819 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Ambroseo sold 25,000 shares of the company’s 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. Over the last ninety days, insiders sold 43,416 shares of company stock valued at $11,740,028. Company insiders own 1.40% of the company’s stock.
Several research analysts have commented on the stock. Northcoast Research restated a “buy” rating and issued a $314.00 target price (up previously from $311.00) on shares of Coherent in a research report on Tuesday, September 12th. Needham & Company LLC upped their target price on shares of Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Stifel Nicolaus restated a “buy” rating and issued a $290.00 target price on shares of Coherent in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Summit Redstone restated a “buy” rating and issued a $320.00 target price on shares of Coherent in a research report on Saturday, September 23rd. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $309.89.
Shares of Coherent, Inc. (NASDAQ COHR) opened at $284.20 on Thursday. The firm has a market cap of $6,998.98, a P/E ratio of 23.72 and a beta of 0.81. Coherent, Inc. has a one year low of $128.21 and a one year high of $320.73. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51.
Coherent (NASDAQ:COHR) last issued its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.24. The company had revenue of $490.00 million during the quarter, compared to analyst estimates of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. 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 business posted $1.65 EPS. research analysts anticipate that Coherent, Inc. will post 15.56 earnings per share for the current year.
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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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