Renaissance Technologies LLC boosted its stake in shares of Coherent, Inc. (NASDAQ:COHR) by 146.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 265,800 shares of the scientific and technical instruments company’s stock after acquiring an additional 158,100 shares during the period. Renaissance Technologies LLC’s holdings in Coherent were worth $75,014,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in Coherent by 3.3% during the fourth quarter. BlackRock Inc. now owns 2,061,486 shares of the scientific and technical instruments company’s stock worth $581,791,000 after purchasing an additional 66,248 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Coherent by 3.6% in the third quarter. Epoch Investment Partners Inc. now owns 962,918 shares of the scientific and technical instruments company’s stock valued at $226,449,000 after acquiring an additional 33,295 shares during the period. OppenheimerFunds Inc. boosted its position in shares of Coherent by 0.7% in the fourth quarter. OppenheimerFunds Inc. now owns 860,200 shares of the scientific and technical instruments company’s stock valued at $242,766,000 after acquiring an additional 5,787 shares during the period. Carillon Tower Advisers Inc. bought a new stake in shares of Coherent in the fourth quarter valued at approximately $213,124,000. Finally, Earnest Partners LLC boosted its position in shares of Coherent by 1.0% in the third quarter. Earnest Partners LLC now owns 636,910 shares of the scientific and technical instruments company’s stock valued at $149,782,000 after acquiring an additional 6,066 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.
In other Coherent news, Director Stephen A. Skaggs sold 500 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $212.27, for a total transaction of $106,135.00. Following the completion of the transaction, the director now directly owns 10,500 shares in the company, valued at $2,228,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul F. Sechrist sold 1,372 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $300.00, for a total value of $411,600.00. Following the completion of the sale, the executive vice president now owns 2,497 shares of the company’s stock, valued at $749,100. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
Coherent, Inc. (COHR) opened at $222.57 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.08 and a current ratio of 3.18. Coherent, Inc. has a 12 month low of $180.30 and a 12 month high of $329.00. The stock has a market capitalization of $5,524.57, a price-to-earnings ratio of 16.87 and a beta of 0.84.
Coherent (NASDAQ:COHR) last released its quarterly earnings data on Wednesday, February 7th. The scientific and technical instruments company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.02. Coherent had a return on equity of 29.82% and a net margin of 11.79%. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $474.21 million. During the same period in the prior year, the company posted $2.57 earnings per share. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. equities analysts anticipate that Coherent, Inc. will post 14.62 EPS for the current fiscal year.
Coherent announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
ILLEGAL ACTIVITY NOTICE: “Coherent, Inc. (COHR) Holdings Raised by Renaissance Technologies LLC” was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://sportsperspectives.com/2018/03/12/coherent-inc-cohr-holdings-raised-by-renaissance-technologies-llc.html.
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).
Want to see what other hedge funds are holding COHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coherent, Inc. (NASDAQ:COHR).
Receive News & Ratings for Coherent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coherent and related companies with MarketBeat.com's FREE daily email newsletter.