Shelton Capital Management Sells 700 Shares of Coherent, Inc. (COHR)

Shelton Capital Management lowered its position in Coherent, Inc. (NASDAQ:COHR) by 26.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,898 shares of the scientific and technical instruments company’s stock after selling 700 shares during the period. Shelton Capital Management’s holdings in Coherent were worth $446,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in COHR. Bank of Montreal Can boosted its holdings in Coherent by 330.5% in the second quarter. Bank of Montreal Can now owns 3,496 shares of the scientific and technical instruments company’s stock worth $788,000 after acquiring an additional 2,684 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Coherent in the second quarter worth approximately $202,000. Arizona State Retirement System boosted its holdings in Coherent by 2.0% in the second quarter. Arizona State Retirement System now owns 10,400 shares of the scientific and technical instruments company’s stock worth $2,340,000 after acquiring an additional 200 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Coherent by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 1,966 shares of the scientific and technical instruments company’s stock worth $442,000 after acquiring an additional 5 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its holdings in Coherent by 151.7% in the second quarter. Dupont Capital Management Corp now owns 3,388 shares of the scientific and technical instruments company’s stock worth $762,000 after acquiring an additional 2,042 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Several brokerages have issued reports on COHR. Northcoast Research reiterated a “buy” rating and issued a $314.00 price target (up previously from $311.00) on shares of Coherent in a report on Tuesday, September 12th. Needham & Company LLC increased their price target on Coherent from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $290.00 price target on shares of Coherent in a report on Wednesday, September 13th. Zacks Investment Research upgraded Coherent from a “hold” rating to a “strong-buy” rating and set a $270.00 price target on the stock in a report on Tuesday, October 3rd. Finally, Summit Redstone restated a “buy” rating and issued a $320.00 target price on shares of Coherent in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $309.89.

In other news, VP Bret Dimarco sold 5,819 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $294.75, for a total value of $1,715,150.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen A. Skaggs sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $308.97, for a total value of $154,485.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $3,398,670. The disclosure for this sale can be found here. Insiders sold 18,416 shares of company stock worth $5,490,028 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Coherent, Inc. (NASDAQ COHR) opened at $288.03 on Friday. Coherent, Inc. has a fifty-two week low of $132.12 and a fifty-two week high of $320.73. The company has a quick ratio of 2.14, a current ratio of 3.13 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $7,210.00, a P/E ratio of 24.02 and a beta of 0.81.

Coherent (NASDAQ:COHR) last posted its earnings results on Tuesday, November 7th. The scientific and technical instruments company reported $3.72 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $490.00 million for the quarter, compared to analyst estimates of $475.24 million. During the same quarter last year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 97.2% on a year-over-year basis. sell-side analysts forecast that Coherent, Inc. will post 15.56 EPS for the current fiscal year.

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Coherent 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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