Schwab Charles Investment Management Inc. raised its position in Coherent, Inc. (NASDAQ:COHR) by 8.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 153,847 shares of the scientific and technical instruments company’s stock after buying an additional 12,376 shares during the period. Schwab Charles Investment Management Inc. owned about 0.62% of Coherent worth $24,065,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in COHR. Toronto Dominion Bank boosted its position in shares of Coherent by 326.7% in the 2nd quarter. Toronto Dominion Bank now owns 640 shares of the scientific and technical instruments company’s stock worth $100,000 after purchasing an additional 490 shares during the last quarter. Silvant Capital Management LLC bought a new position in shares of Coherent in the 1st quarter worth $174,000. Point72 Asset Management L.P. bought a new position in shares of Coherent in the 1st quarter worth $206,000. Sciencast Management LP bought a new position in shares of Coherent in the 1st quarter worth $241,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Coherent by 57.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,332 shares of the scientific and technical instruments company’s stock worth $250,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s stock.
In related news, EVP Mark Stewart Sobey sold 13,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was 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 owns 17,887 shares of the company’s stock, valued at approximately $3,252,929.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Several research firms have recently issued reports on COHR. ValuEngine lowered Coherent from a “hold” rating to a “sell” rating in a research report on Friday. Northcoast Research restated a “buy” rating and issued a $217.00 price target on shares of Coherent in a research report on Thursday, August 2nd. BidaskClub lowered Coherent from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Longbow Research set a $215.00 price objective on Coherent and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $242.00 price objective on shares of Coherent in a research note on Tuesday, June 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $240.88.
Shares of Coherent stock opened at $173.24 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 12.68 and a beta of 1.05. Coherent, Inc. has a 12 month low of $145.66 and a 12 month high of $329.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.87 and a current ratio of 3.28.
Coherent (NASDAQ:COHR) last issued its quarterly earnings data on Tuesday, July 31st. The scientific and technical instruments company reported $3.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.54 by ($0.03). The business had revenue of $482.00 million for the quarter, compared to analyst estimates of $491.31 million. Coherent had a return on equity of 28.01% and a net margin of 12.84%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.36 EPS. analysts expect that Coherent, Inc. will post 13.14 EPS for the current year.
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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