Charter Trust Co. reduced its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,671 shares of the scientific and technical instruments company’s stock after selling 924 shares during the quarter. Charter Trust Co.’s holdings in Coherent were worth $976,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Coherent by 11.0% in the second quarter. Bank of America Corp DE now owns 176,216 shares of the scientific and technical instruments company’s stock valued at $27,564,000 after purchasing an additional 17,451 shares during the period. Value Holdings Management CO. LLC boosted its holdings in shares of Coherent by 13.4% in the second quarter. Value Holdings Management CO. LLC now owns 33,803 shares of the scientific and technical instruments company’s stock valued at $5,288,000 after acquiring an additional 4,000 shares in the last quarter. Robecosam AG boosted its holdings in shares of Coherent by 75.0% in the third quarter. Robecosam AG now owns 70,000 shares of the scientific and technical instruments company’s stock valued at $12,050,000 after acquiring an additional 30,000 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Coherent in the second quarter valued at about $867,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Coherent in the second quarter valued at about $254,000.
Several analysts have recently weighed in on COHR shares. Benchmark reaffirmed a “buy” rating and issued a $216.00 target price on shares of Coherent in a report on Thursday, September 13th. Longbow Research set a $215.00 target price on shares of Coherent and gave the company a “buy” rating in a report on Thursday, August 23rd. Barclays lowered their target price on shares of Coherent from $218.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Stifel Nicolaus set a $185.00 target price on shares of Coherent and gave the company a “buy” rating in a report on Tuesday, October 23rd. Finally, Berenberg Bank started coverage on shares of Coherent in a report on Wednesday, November 14th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Coherent presently has a consensus rating of “Hold” and a consensus target price of $218.00.
COHR stock opened at $119.71 on Friday. The stock has a market cap of $3.04 billion, a P/E ratio of 9.52 and a beta of 1.40. Coherent, Inc. has a 52 week low of $115.53 and a 52 week high of $329.00. The company has a current ratio of 3.32, a quick ratio of 2.02 and a debt-to-equity ratio of 0.32.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Tuesday, November 6th. The scientific and technical instruments company reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.26. The firm had revenue of $461.50 million for the quarter, compared to the consensus estimate of $460.60 million. Coherent had a net margin of 13.00% and a return on equity of 25.89%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.72 earnings per share. On average, equities analysts predict that Coherent, Inc. will post 10.37 earnings per share for the current year.
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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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