Coherent, Inc. (COHR) Shares Bought by Earnest Partners LLC

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Earnest Partners LLC grew its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 455,801 shares of the scientific and technical instruments company’s stock after buying an additional 1,928 shares during the period. Earnest Partners LLC’s holdings in Coherent were worth $71,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in COHR. Oregon Public Employees Retirement Fund increased its stake in Coherent by 3.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,718 shares of the scientific and technical instruments company’s stock valued at $1,520,000 after acquiring an additional 279 shares during the period. Alps Advisors Inc. increased its stake in Coherent by 17.2% in the first quarter. Alps Advisors Inc. now owns 2,156 shares of the scientific and technical instruments company’s stock valued at $404,000 after acquiring an additional 317 shares during the period. Mason Street Advisors LLC increased its stake in Coherent by 2.7% in the first quarter. Mason Street Advisors LLC now owns 12,466 shares of the scientific and technical instruments company’s stock valued at $2,336,000 after acquiring an additional 331 shares during the period. Amalgamated Bank increased its stake in Coherent by 6.6% in the first quarter. Amalgamated Bank now owns 5,482 shares of the scientific and technical instruments company’s stock valued at $1,027,000 after acquiring an additional 341 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Coherent by 6.1% in the second quarter. Victory Capital Management Inc. now owns 6,316 shares of the scientific and technical instruments company’s stock valued at $988,000 after acquiring an additional 365 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Shares of Coherent stock opened at $191.03 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 1.87 and a debt-to-equity ratio of 0.34. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 13.91 and a beta of 1.04. Coherent, Inc. has a 1-year low of $145.66 and a 1-year high of $329.00.

Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). The firm had revenue of $482.00 million for the quarter, compared to the consensus estimate of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. Coherent’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.36 earnings per share. equities analysts anticipate that Coherent, Inc. will post 13.14 EPS for the current year.

A number of analysts recently weighed in on the stock. Northcoast Research reissued a “buy” rating and issued a $217.00 target price on shares of Coherent in a research note on Thursday, August 2nd. Benchmark reissued a “buy” rating and issued a $216.00 target price (down previously from $242.00) on shares of Coherent in a research note on Wednesday, August 1st. Zacks Investment Research cut shares of Coherent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 31st. BidaskClub raised shares of Coherent from a “sell” rating to a “hold” rating in a research note on Friday, May 11th. Finally, Stifel Nicolaus assumed coverage on shares of Coherent in a research note on Thursday, May 10th. They issued a “buy” rating and a $248.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Coherent currently has a consensus rating of “Buy” and an average target price of $244.67.

In other Coherent news, EVP Mark Stewart Sobey sold 13,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $181.86, for a total transaction of $2,364,180.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $3,252,929.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by corporate insiders.

Coherent Company Profile

Coherent, Inc provides lasers and laser-based technology in a range of scientific, commercial, and industrial applications worldwide. It operates through two segments, Specialty Lasers and Systems, and Commercial Lasers and Components. The company designs, manufactures, services, and markets lasers, laser tools, precision optics, and related accessories.

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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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