Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 27.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,527 shares of the scientific and technical instruments company’s stock after selling 584 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coherent were worth $263,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in COHR. BNP Paribas Arbitrage SA grew its stake in shares of Coherent by 76.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,102 shares of the scientific and technical instruments company’s stock worth $642,000 after acquiring an additional 1,774 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Coherent during the 2nd quarter worth approximately $319,000. Wells Fargo & Company MN grew its stake in shares of Coherent by 154.0% during the 2nd quarter. Wells Fargo & Company MN now owns 329,944 shares of the scientific and technical instruments company’s stock worth $51,609,000 after acquiring an additional 200,049 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Coherent by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 6,316 shares of the scientific and technical instruments company’s stock worth $988,000 after acquiring an additional 365 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Coherent during the 2nd quarter worth approximately $1,050,000.
Several equities analysts have recently weighed in on COHR shares. Vertical Group started coverage on shares of Coherent in a research note on Tuesday, November 27th. They set a “buy” rating for the company. ValuEngine raised shares of Coherent from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. TheStreet cut shares of Coherent from a “b” rating to a “c+” rating in a research note on Friday, October 19th. Benchmark reaffirmed a “buy” rating and set a $216.00 price target on shares of Coherent in a research note on Thursday, September 13th. Finally, Northcoast Research reaffirmed a “hold” rating on shares of Coherent in a research note on Monday, November 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Coherent presently has a consensus rating of “Hold” and an average target price of $218.00.
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, beating the consensus estimate of $2.96 by $0.26. The company had revenue of $461.50 million during the quarter, compared to the consensus estimate of $460.60 million. Coherent had a return on equity of 25.89% and a net margin of 13.00%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.72 EPS. On average, sell-side analysts forecast that Coherent, Inc. will post 10.37 earnings per share for the current year.
In other news, Director Pamela Fletcher sold 458 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $132.75, for a total value of $60,799.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
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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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