Value Holdings Management CO. LLC reduced its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,803 shares of the scientific and technical instruments company’s stock after selling 2,000 shares during the quarter. Coherent comprises approximately 2.1% of Value Holdings Management CO. LLC’s portfolio, making the stock its 16th largest holding. Value Holdings Management CO. LLC owned about 0.15% of Coherent worth $5,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently made changes to their positions in the stock. MUFG Americas Holdings Corp acquired a new position in Coherent during the third quarter worth about $25,000. Cullen Frost Bankers Inc. grew its stake in shares of Coherent by 129.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 163 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 92 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Coherent by 160.6% in the third quarter. Quadrant Capital Group LLC now owns 404 shares of the scientific and technical instruments company’s stock worth $55,000 after acquiring an additional 249 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Coherent in the fourth quarter worth $56,000. Finally, First Bank & Trust grew its stake in shares of Coherent by 401.4% in the fourth quarter. First Bank & Trust now owns 366 shares of the scientific and technical instruments company’s stock worth $61,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
In other news, EVP Mark Stewart Sobey sold 3,322 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $175.21, for a total value of $582,047.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $151.23, for a total transaction of $75,615.00. Following the completion of the sale, the director now owns 12,514 shares in the company, valued at $1,892,492.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,624 shares of company stock worth $1,498,925. 1.25% of the stock is owned by company insiders.
A number of analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Coherent in a research report on Thursday, February 6th. Piper Jaffray Companies assumed coverage on Coherent in a research note on Friday, December 20th. They issued an “overweight” rating and a $205.00 target price on the stock. Susquehanna Bancshares restated a “buy” rating and issued a $195.00 target price on shares of Coherent in a research note on Thursday, February 6th. BidaskClub lowered Coherent from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lowered their target price on Coherent from to in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Coherent has a consensus rating of “Hold” and a consensus price target of $184.67.
NASDAQ COHR traded down $3.09 during trading hours on Wednesday, hitting $127.16. 12,872 shares of the company’s stock traded hands, compared to its average volume of 294,673. Coherent, Inc. has a 52-week low of $109.06 and a 52-week high of $178.08. The company has a market capitalization of $3.18 billion, a PE ratio of 128.23 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.38 and a quick ratio of 2.63. The firm’s 50-day moving average is $157.54 and its 200-day moving average is $154.80.
Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Wednesday, February 5th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.09. The firm had revenue of $320.80 million during the quarter, compared to analysts’ expectations of $315.53 million. Coherent had a net margin of 1.76% and a return on equity of 6.46%. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS. Equities research analysts predict that Coherent, Inc. will post 3.41 earnings per share for the current fiscal year.
Coherent, Inc provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial applications. It operates through two segments, OEM Laser Sources and Industrial Lasers & Systems. The company designs, manufactures, markets, and services lasers, laser tools, precision optics, and related accessories; and laser measurement and control products.
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