Albion Financial Group UT Purchases 13,434 Shares of Coherent, Inc. (COHR)

Albion Financial Group UT boosted its position in Coherent, Inc. (NASDAQ:COHR) by 249.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,820 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,434 shares during the quarter. Albion Financial Group UT owned about 0.08% of Coherent worth $4,426,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its stake in Coherent by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock valued at $442,000 after purchasing an additional 5 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of 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 valued at $227,000 after acquiring an additional 30 shares during the period. Creative Planning lifted its position in shares of Coherent by 8.3% during the 2nd quarter. Creative Planning now owns 1,207 shares of the scientific and technical instruments company’s stock valued at $272,000 after acquiring an additional 92 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Coherent by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,206 shares of the scientific and technical instruments company’s stock valued at $271,000 after acquiring an additional 117 shares during the period. Finally, ETRADE Capital Management LLC lifted its position in shares of Coherent by 2.2% during the 2nd quarter. ETRADE Capital Management LLC now owns 6,775 shares of the scientific and technical instruments company’s stock valued at $1,524,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

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Shares of Coherent, Inc. (COHR) traded down $4.61 during mid-day trading on Thursday, hitting $314.83. The company had a trading volume of 298,174 shares, compared to its average volume of 444,938. The company has a current ratio of 3.13, a quick ratio of 2.14 and a debt-to-equity ratio of 0.61. Coherent, Inc. has a twelve month low of $124.94 and a twelve month high of $320.73. The company has a market cap of $7,868.27, a P/E ratio of 26.87 and a beta of 0.79.

Coherent (NASDAQ:COHR) last announced its quarterly earnings data on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.24. Coherent had a return on equity of 28.53% and a net margin of 12.02%. The business had revenue of $490.00 million during the quarter, compared to the consensus estimate of $475.24 million. During the same period in the prior year, the company earned $1.65 EPS. Coherent’s revenue for the quarter was up 97.2% on a year-over-year basis. analysts anticipate that Coherent, Inc. will post 15.56 EPS for the current year.

In other news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $3,398,670. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Bret Dimarco sold 5,819 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $294.75, for a total value of $1,715,150.25. The disclosure for this sale can be found here. In the last three months, insiders sold 42,414 shares of company stock valued at $11,450,570. Insiders own 1.40% of the company’s stock.

A number of analysts have recently weighed in on COHR shares. Benchmark Co. reiterated a “buy” rating and set a $290.00 target price (down from $295.00) on shares of Coherent in a research report on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $270.00 target price (up from $265.00) on shares of Coherent in a research report on Wednesday, August 2nd. ValuEngine upgraded Coherent from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. UBS Group AG upgraded Coherent from a “neutral” rating to a “positive” rating in a research report on Thursday, August 3rd. Finally, Susquehanna Bancshares Inc upgraded Coherent from a “neutral” rating to a “positive” rating and upped their target price for the company from $255.00 to $275.00 in a research report on Thursday, August 3rd. 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $309.89.

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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Institutional Ownership by Quarter for Coherent (NASDAQ:COHR)

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