Schwab Charles Investment Management Inc. Grows Stake in Coherent, Inc. (COHR)

Schwab Charles Investment Management Inc. grew its holdings in Coherent, Inc. (NASDAQ:COHR) by 4.9% during the 4th quarter, Holdings Channel reports. The firm owned 132,607 shares of the scientific and technical instruments company’s stock after buying an additional 6,244 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Coherent were worth $37,425,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in COHR. Stifel Financial Corp grew its position in shares of Coherent by 83.0% in the second quarter. Stifel Financial Corp now owns 11,709 shares of the scientific and technical instruments company’s stock valued at $2,627,000 after purchasing an additional 5,311 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Coherent in the second quarter valued at approximately $271,000. Flinton Capital Management LLC grew its position in shares of Coherent by 73.8% in the second quarter. Flinton Capital Management LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $263,000 after purchasing an additional 496 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Coherent in the second quarter valued at approximately $458,000. Finally, Caxton Associates LP acquired a new stake in shares of Coherent in the second quarter valued at approximately $382,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

In related news, 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 transaction of $154,485.00. Following the sale, the director now owns 11,000 shares in the company, valued at $3,398,670. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $300.00, for a total transaction of $411,600.00. Following the sale, the executive vice president now owns 2,497 shares in the company, valued at approximately $749,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,569 shares of company stock worth $2,898,201. 1.40% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $294.00 price target (down from $330.00) on shares of Coherent in a research report on Thursday. Benchmark increased their price target on shares of Coherent from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research upgraded shares of Coherent from a “hold” rating to a “buy” rating and set a $337.00 price target on the stock in a research report on Wednesday, January 10th. Barclays set a $325.00 price target on shares of Coherent and gave the company an “overweight” rating in a research report on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Coherent from $290.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $312.22.

Shares of Coherent, Inc. (COHR) opened at $209.61 on Friday. Coherent, Inc. has a 1 year low of $179.60 and a 1 year high of $329.00. The stock has a market cap of $5,110.54, a P/E ratio of 15.61 and a beta of 0.65. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.14 and a current ratio of 3.18.

Coherent (NASDAQ:COHR) last announced its earnings results on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.52 by $0.02. Coherent had a net margin of 11.79% and a return on equity of 29.82%. The firm had revenue of $477.60 million for the quarter, compared to analyst estimates of $474.21 million. During the same quarter last year, the business earned $2.57 earnings per share. Coherent’s revenue was up 38.0% compared to the same quarter last year. analysts forecast that Coherent, Inc. will post 15.56 EPS for the current year.

Coherent announced that its Board of Directors has initiated a share buyback program on Wednesday, February 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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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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