Chartwell Investment Partners LLC boosted its position in shares of Coherent, Inc. (NASDAQ:COHR) by 53.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,351 shares of the scientific and technical instruments company’s stock after purchasing an additional 21,658 shares during the period. Chartwell Investment Partners LLC owned about 0.25% of Coherent worth $14,663,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of COHR. Epoch Investment Partners Inc. lifted its position in Coherent by 66.4% during the second quarter. Epoch Investment Partners Inc. now owns 929,623 shares of the scientific and technical instruments company’s stock valued at $209,157,000 after acquiring an additional 370,993 shares during the last quarter. Koch Industries Inc. acquired a new stake in Coherent during the second quarter valued at $354,000. Harbour Capital Advisors LLC grew its position in shares of Coherent by 28,934.4% in the second quarter. Harbour Capital Advisors LLC now owns 304,861 shares of the scientific and technical instruments company’s stock valued at $1,355,000 after purchasing an additional 303,811 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Coherent by 213.4% in the second quarter. Goldman Sachs Group Inc. now owns 210,889 shares of the scientific and technical instruments company’s stock worth $47,448,000 after buying an additional 143,606 shares in the last quarter. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Coherent in the third quarter worth about $25,361,000. Institutional investors own 89.89% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Northcoast Research reissued a “buy” rating and issued a $314.00 price target (up from $311.00) on shares of Coherent in a research note on Tuesday, September 12th. Susquehanna Bancshares Inc raised shares of Coherent from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $255.00 to $275.00 in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $290.00 target price on shares of Coherent in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price objective for the company in a report on Tuesday, October 3rd. Finally, Needham & Company LLC boosted their price target on shares of Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Coherent presently has a consensus rating of “Buy” and an average target price of $309.89.
Coherent (NASDAQ:COHR) last released its quarterly earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.24. The business had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. Coherent had a net margin of 12.02% and a return on equity of 28.53%. The business’s quarterly revenue was up 97.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. equities analysts expect that Coherent, Inc. will post 15.56 earnings per share for the current year.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Ambroseo sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $250.00, for a total value of $6,250,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,414 shares of company stock worth $11,450,570. Company insiders own 1.40% of the company’s stock.
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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).
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