Nomura Holdings Inc. purchased a new position in shares of Coherent, Inc. (NASDAQ:COHR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,947 shares of the scientific and technical instruments company’s stock, valued at approximately $664,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in Coherent during the 1st quarter worth approximately $170,000. Smithfield Trust Co. bought a new stake in Coherent during the 2nd quarter worth approximately $199,000. Daiwa Securities Group Inc. bought a new stake in Coherent during the 2nd quarter worth approximately $202,000. WESPAC Advisors LLC bought a new stake in Coherent during the 2nd quarter worth approximately $211,000. Finally, Coldstream Capital Management Inc. grew its position in Coherent by 3.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,010 shares of the scientific and technical instruments company’s stock worth $227,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
Coherent, Inc. (NASDAQ:COHR) opened at 258.47 on Friday. The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of 38.91 and a beta of 0.78. The firm has a 50-day moving average price of $247.03 and a 200-day moving average price of $236.81. Coherent, Inc. has a 12 month low of $100.01 and a 12 month high of $281.00.
Coherent (NASDAQ:COHR) last announced its quarterly earnings results 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 company had revenue of $464.10 million for the quarter, compared to analyst estimates of $466.90 million. Coherent had a return on equity of 24.98% and a net margin of 11.08%. The firm’s quarterly revenue was up 112.1% on a year-over-year basis. During the same quarter last year, the company posted $1.07 earnings per share. On average, equities analysts anticipate that Coherent, Inc. will post $12.28 earnings per share for the current fiscal year.
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In other news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,500 shares in the company, valued at $2,502,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction 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. 1.40% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on COHR. Benchmark Co. restated a “buy” rating and set a $290.00 price target (down from $295.00) on shares of Coherent in a research report on Tuesday, August 8th. Barclays PLC began coverage on Coherent in a research report on Monday, August 7th. They set an “overweight” rating and a $285.00 price target on the stock. UBS AG upgraded Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered Coherent from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Susquehanna Bancshares Inc upgraded Coherent from a “neutral” rating to a “positive” rating and increased their price target for the stock from $255.00 to $275.00 in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $293.22.
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).
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