Thompson Siegel & Walmsley LLC Acquires New Stake in Coherent, Inc. (NASDAQ:COHR)

Thompson Siegel & Walmsley LLC purchased a new stake in Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,500 shares of the scientific and technical instruments company’s stock, valued at approximately $562,000.

A number of other institutional investors also recently modified their holdings of COHR. Bank of Montreal Can lifted its stake in Coherent by 11.4% in the 1st quarter. Bank of Montreal Can now owns 812 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 83 shares in the last quarter. ProShare Advisors LLC lifted its stake in Coherent by 8.7% in the 1st quarter. ProShare Advisors LLC now owns 4,819 shares of the scientific and technical instruments company’s stock valued at $991,000 after buying an additional 384 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Coherent by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 66,542 shares of the scientific and technical instruments company’s stock valued at $13,682,000 after buying an additional 6,712 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in Coherent in the 1st quarter valued at about $843,000. Finally, State Treasurer State of Michigan purchased a new position in Coherent in the 1st quarter valued at about $2,056,000. 90.21% of the stock is currently owned by hedge funds and other institutional investors.

In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $217.58, for a total transaction of $108,790.00. Following the transaction, the director now owns 11,500 shares of the company’s stock, valued at $2,502,170. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Ambroseo sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $250.00, for a total transaction of $6,250,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

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A number of research firms have weighed in on COHR. ValuEngine lowered shares of Coherent from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Northcoast Research reissued a “buy” rating and issued a $314.00 target price (up from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Longbow Research reissued a “buy” rating and issued a $325.00 target price on shares of Coherent in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc raised shares of Coherent from a “neutral” rating to a “positive” rating and raised their target price for the stock from $255.00 to $275.00 in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Coherent currently has an average rating of “Buy” and an average price target of $291.88.

Shares of Coherent, Inc. (NASDAQ COHR) opened at 254.41 on Friday. Coherent, Inc. has a one year low of $100.01 and a one year high of $281.00. The stock’s 50 day moving average is $230.30 and its 200-day moving average is $228.71. The firm has a market cap of $6.27 billion, a P/E ratio of 38.30 and a beta of 0.76.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, August 1st. The scientific and technical instruments company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.09). The firm had revenue of $464.10 million for the quarter, compared to analysts’ expectations of $466.90 million. Coherent had a net margin of 11.08% and a return on equity of 24.98%. The business’s quarterly revenue was up 112.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS. Analysts anticipate that Coherent, Inc. will post $12.27 EPS for the current fiscal year.

Coherent Company Profile

Coherent, Inc is a photonics manufacturer. The Company is engaged in designing, manufacturing, servicing and marketing of lasers and related accessories for a range of scientific, commercial and industrial applications. It operates through two segments: Specialty Lasers and Systems (SLS) and Commercial Lasers and Components (CLC).

Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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