Coherent, Inc. (COHR) Position Reduced by M&T Bank Corp

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M&T Bank Corp decreased its position in shares of Coherent, Inc. (NASDAQ:COHR) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,893 shares of the scientific and technical instruments company’s stock after selling 335 shares during the period. M&T Bank Corp’s holdings in Coherent were worth $411,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COHR. Victory Capital Management Inc. raised its holdings in Coherent by 6,501.1% during the third quarter. Victory Capital Management Inc. now owns 416,923 shares of the scientific and technical instruments company’s stock worth $71,790,000 after purchasing an additional 410,607 shares in the last quarter. First Trust Advisors LP bought a new stake in Coherent during the third quarter worth approximately $34,534,000. American Century Companies Inc. raised its holdings in Coherent by 11,242.8% during the third quarter. American Century Companies Inc. now owns 144,847 shares of the scientific and technical instruments company’s stock worth $24,941,000 after purchasing an additional 143,570 shares in the last quarter. Becker Capital Management Inc. bought a new stake in Coherent during the third quarter worth approximately $24,267,000. Finally, Franklin Resources Inc. raised its holdings in Coherent by 60.8% during the third quarter. Franklin Resources Inc. now owns 339,964 shares of the scientific and technical instruments company’s stock worth $58,538,000 after purchasing an additional 128,500 shares in the last quarter. 96.43% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ COHR opened at $128.69 on Thursday. Coherent, Inc. has a twelve month low of $90.10 and a twelve month high of $233.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 3.26. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 11.18 and a beta of 1.53.

Coherent (NASDAQ:COHR) last posted its quarterly earnings data on Tuesday, January 29th. The scientific and technical instruments company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.02. Coherent had a net margin of 13.33% and a return on equity of 22.05%. The firm had revenue of $383.15 million for the quarter, compared to analysts’ expectations of $382.65 million. As a group, equities analysts expect that Coherent, Inc. will post 7.15 earnings per share for the current year.

Several research firms have issued reports on COHR. BidaskClub upgraded shares of Coherent from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Zacks Investment Research lowered shares of Coherent from a “hold” rating to a “strong sell” rating in a research report on Monday, February 4th. Benchmark restated a “buy” rating and issued a $162.00 price target (down previously from $212.00) on shares of Coherent in a research report on Wednesday, January 30th. Needham & Company LLC lowered shares of Coherent from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Northcoast Research restated a “hold” rating on shares of Coherent in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $175.71.

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About Coherent

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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